7 EU Nations Join Forces & Sign a Declaration to Promote Blockchain

The blockchain technology was probably never aimed at the government sector; initially only the tech and the finance community opened their gates for it. However, with the course of time, as new use cases of the distributed ledger technology came into light, other industries and sectors tried their luck with it. And now we have reached the point, where the blockchain tech isn’t limited to the sphere of industries, it has extended its boarders to the government sector as well.

In fact, a group of seven EU member nations have come together with an aim to promote the various use cases of the blockchain tech in the government sector to boost their services along with economic wellbeing.

The list of the members includes the southern European states of, France, Italy, Spain, Malta, Cyprus, Portugal and Spain. All these countries have signed a joint declaration to promote the adoption of blockchain in the region, so as to transform their respective economies. The declaration was signed on Tuesday, in Brussels, Belgium, with a vision to become the leading region in this sector.

The reason behind incorporating blockchain tech in the government sector is because of its potential to be a game changer in increasing the efficiency and transparency of government services, from education and healthcare to transport and customs. Furthermore it can also enhance services for citizens thus bringing accountability and privacy for the end users.

This can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information

Read the declaration state.

The declaration further states the future regulations as per the distributed ledger technology in the economic bloc.

We believe that any legislation on Distributed Ledger Technologies should take into account the decentralized nature of such technology and should be based on European fundamental principles and technological neutrality.

The declaration also believes that it should allow for innovation and experimentations, so that the public and private sector, both can better understand the Distributed Ledger Technologies and to further develop its use cases.

Malta is the smallest nation in the EU, and it seems to be making up for its small size by its active adoption of blockchain tech. It has already taken several initiatives towards becoming a self-titled “Blockchain Island.” Malta’s parliamentary secretary for digital economy, financial services and innovation, Silvio Schembri is extremely thrilled at Malta’s forward approach the technology.In June only, the nation’s parliament passed three bills related to cryptocurrency and blockchain.

Other EU nations haven’t officially regulated the blockchain technology across the region, but it has launched different initiatives to trail and investigate the technology.

For further updates, stay tuned to BlockPublisher.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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