22 European Countries Sign Declaration to Join Blockchain Partnership

Law and Regulation, News

Reports from the EU Commission’s “Digital Day” confirm that 22 countries have signed a declaration to establish a European Blockchain Partnership.

Today the European Commission brought together ministers, representatives of EU countries, and industry, academic, and civil society reps to encourage cooperation in the digital single market and blockchain as one of the technologies on the agenda.

The declaration

The declaration, which has been signed by 22 countries, represents a joint effort by all nations involved to make Europe a world leader in distributed ledger technology. In signing the declaration, the countries have pledged to work together in sharing experience and technical expertise to facilitate innovation and work towards coherent regulations for the industry.

It is hoped that the European Blockchain partnership will put an end to fragmented approaches toward development and regulation, and help all develop and employ interoperable blockchain solutions that can then be rolled out widely across the region.

“In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies.” — Mariya Gabriel, Commissioner for Digital Economy and Society.

What next?

The establishment of a European Blockchain Partnership will undoubtedly cause a stir in the crypto community and should attract some of the world’s best innovators. With GDPR regulations coming into action in May, the region could be on the fast-track to the facilitation and deployment of innovative technologies.

The region has had a consistently pragmatic attitude towards the technology, and the EU had already outlined plans to invest over €300 million in blockchain technology. Now, with the backing and cooperation of 22 countries, the impact on the space should be even more significant.

Signatories of the declaration: Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, UK.

Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.

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