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Seven EU Countries Sign Declaration To Implement Blockchain

21:36 06/12/2018

Several southern countries of the European Union founded the so-called “Mediterranean seven”, to make the region a leader in blockchain implementation. The Ministers of France, Italy, Spain, Portugal, Malta, Greece, and Cyprus signed a declaration in Brussels on December 4, 2018.

 

The states will try to improve the economic situation with the help of innovative technologies. The politicians agreed to hold regular meetings at which they will discuss the most successful ways to use blockchain and share the progress achievements.

The document states that the application of the technology can make all services in the public sector, from education to transport and customs, more transparent and efficient. According to the ministers, blockchain can improve privacy and allow EU citizens to manage their personal data securely.

 

Speaking about the blockchain regulation, the ministers recommended to take into account the decentralized nature of the technology, as well as to adopt crypto laws based on the principles of technological neutrality.

At the same time, Ripple, NEM, and two more companies established an association that will represent their interests in Europe. The crypto industry players believe that the EU state structures lack reliable information about blockchain and its advantages. The companies will promote ideas not tied to the interests of organizations or its stakeholders and will try to ensure that future European crypto laws provide for the growth of innovations.


Soon, European supermarkets will begin to track the origin of products with the help of blockchain. The French retail chain Auchan will deploy the technology in five countries.

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