Seven Southern European Countries Agreed to Promote Blockchain

Seven Southern European Countries Agreed to Promote Blockchain

Seven countries of Southern Europe signed a declaration in which they commit themselves to promote blockchain. These countries are Cyprus, France, Greece, Italy, Malta, Portugal and Spain. All of them hope to change their economies with the help of the unaltered ledger and secure the region’s leading status in this field.

EU-Member States’ into Blockchain

On December 4, in Brussels, seven EU member states signed a ministerial declaration in which they referred to the blockchain, as well as IoT and AI as transforming forces for their economies.

It is noteworthy that Silvio Schembri, Maltese politician responsible for digital innovation and finance, posted a tweet in which he said he was proud that Malta, the smallest country in the EU, took the lead in cooperation in the blockchain sector.

In the document, the countries claim the distributed register can be a decisive force in perfecting efficiency and transparency in public services, including medicine, education, transport, customs, etc. The countries believe this technological trend can make the private life of citizens more secured when it comes to services, as mentioned above. Moreover, the quality of the services can be improved, the document implies.

«Due to its nature, we are of the view that Distributed Ledger Technologies can result in enhanced transparency, accountability and privacy for the end-users. In this sense, we believe that the promotion of privacy through blockchain enhanced solutions could be a way forward, empowering citizens to be in control of their own personal data,» says the declaration.

It also states that governments of the seven countries are responsible for making sure their citizens comprehend the opportunities of the novel tech trends. This, therefore, involves the work of the government in the educational sector — to make people learn more about them. 

«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,» also says the document.