Declaration signed by seven EU states – Blockchain adoption

loading Declaration signed by seven EU states – Blockchain adoption

Seven Southern European Union members states released a declaration seeking for help in the promotion of Distributed Ledger Technology’s (DLT) which they use in the region, reported by Financial Times.

The declaration was initially reported by Malta and it was signed by the other six members of the states, France, Italy, Cyprus, Portugal, Spain, and Greece done during the EU transport ministers meeting on Tuesday.

The governments which are participating explained that DLT is a type of blockchain which could be a “game changer” for the southern EU countries.

There are few services which can be “transformed” by using this technology and they are “education, transport, mobility, shipping, Land Registry, customs, company registry, and healthcare”. This group also cites the use of blockchain tech’s for protecting citizen’s privacy and making the bureaucratic procedures more efficient.

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

In mid-November, a member of the Executive Board of the European Central Bank, Benoit Coeure declared that he considers bitcoin as the “evil spawn of 2008 financial crisis.” In the same month, the banking groups BBVA and Banco Santander put hands together to the EU International Association for a Trusted Blockchain Applications (IATBA). The association themselves is set to launch Q1 2019 and aims to develop blockchain infrastructure and standards

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