7 European countries agree to promote the adoption of crypto technology.

Seven member countries of the European Union signed a joint declaration to promote the use of crypto technology, as a strategy to offer government services and develop the economy of the region.

The Ministers of Cyprus, France, Greece, Italy, Malta, Portugal and Spain were the signatories of the declaration, presented in Brussels, Belgium, this December 4, in the framework of the meetings of Foreign Ministers held from 3 to 5 from December.

In this sense, the 7 European countries seek to lead technological advances in the region, and include other southern European countries in this process, for which they commit to continue exploring the possibilities of cooperating in the development of cross-border projects related to distributed accounting technology (DLT).

To this end, the ministers highlight the advantages of the block chain, considering it as one of the instruments that can help to democratize the European economic model and transform their economies.

“We believe that distributed accounting technology, together with other emerging technologies, such as 5G, Artificial Intelligence and the Internet of Things could be a strong collaborator that will help transform the experience of southern European countries, and expand their digital ecosystem including the research, development and innovation.”

This transformation, according to the ministers, can occur due to the potential of the DLT to streamline many administrative processes and facilitate the supply of services in areas such as education, transportation, health and commerce, among others (both public and private). All thanks to the transparency, responsibility and privacy offered to end users.

Therefore, they believe that governments should ensure that citizens understand the potential of these emerging technologies and believe it necessary to encourage educational programs on these issues, also promoting use cases. They add that any regulation on the ecosystem must take into account the decentralized nature of this technology and “be based on European fundamental principles and technological neutrality”, allowing innovation

Consequently, these 7 European countries commit to hold regular meetings to guarantee the best practices in the implementation of the block chain and review the progress in the matter.

At the same time, the signatories ask the European Commission to continue the work started through the European Blockchain Association. In this body, created last April to exchange knowledge and technical expertise on blockchain, about 26 members participate, including the signatories of the declaration, some of them included among the group of nations friendlier to cryptocompanies.

This declaration of the countries of southern Europe, in favor of cryptoactive technology, is carried out almost in tandem with the recent announcement of a new initiative presented by the companies Ripple, Cardano and NEM, called Blockchain for Europe, also for the purpose of promotion of the DLT.

These are groups that have the blessing of the European Parliament and the European Commission, international organizations that promote initiatives such as the European Union Blockchain Observatory and Forum, as well as financing projects related to the block chain, through programs of research FP7 and Horizon2020. It is estimated that this commission for the year 2020 will have made a total financing in projects related to the blockchain for more 340 million euros.

Source: criptonoticias.com

Image: Pixabay

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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