It seems that blockchain ventures are popping up almost by the day. In order to promote understanding and regulation of blockchain and distributed ledger technologies (DLT), a ‘Blockchain for Europe’ Association has formed.
The latest endeavor comes from four already pretty major and renowned blockchain companies that have joined forces to establish the Association.
Blockchain for Europe
The four members of the association are Ripple, the NEM Foundation, Emurgo, and Fetch.AI.
But what’s the point of Blockchain for Europe? The companies want to address the European Union’s “fragmented” policy debate which surrounds and impedes blockchain business and proactivity.
The association claims that “inconsistent information from those outside the emerging sector” is wreaking havoc on the current policy.
So education will be a major focus of the group, and its targets are EU member state institutions. The goal is simply to teach about blockchain technology and all its potentials.
According to Finextra.com, the group will look for “smart” regulation that will have the best interest of blockchain technology at its core.
Active
The group has already been active. One week ago, it hosted a Blockchain for Europe Summit at the European Parliament in Brussels.
It was joined by The European People’s Party group, The Alliance of Liberals and Democrats for Europe, European Conservatives and Reformists, and The Progressive Alliance of Socialists and Democrats. The summit got to the point and addressed blockchain’s potential for multiple sectors including government uses, healthcare, finance, trade, transport, and digital assets like cryptocurrencies.
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Another regional industry group focused on supporting blockchain initiatives is The European Blockchain Partnership. It was established in early 2018. The group describes this aim further:
“the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of security and privacy.”
The blockchain industry continues to grow. And its potential has expanded far beyond its founding use of cryptocurrency. As such, understanding it and allowing industries to yield its potential fully will be crucial to its adoption.
Featured Image: Depositphotos/© Mehaniq
