Europe is steadily embracing cryptocurrency and blockchain technology. According to a recent report, Europe has outperformed US and crypto-friendly Asian countries in conducting successful ICOs in 2018. Now, the continent is going to have a blockchain-specific association, created by four major blockchain companies including Ripple and NEM Foundation, to promote the understanding of blockchain and other distributed ledger (DLT) technologies across the continent.
“Blockchain for Europe” has been created by Ripple, the NEM Foundation, Emurgo – a company which supports commercial ventures based on the Cardano blockchain, and Fetch.AI - a “smart ledger” development firm. The aim of the association is to address European Union’s the issue of EU’s fragmented policy debate around blockchain, which is presently being controlled by those outside the sector of blockchain, whose understanding of the technology is not complete.
The association will consist of participant organisations whose businesses are originating from blockchain and DLT, and which share the common vision of seeing Europe become the global frontrunner in blockchain technology. The association wants to help Europe develop “smart regulation to shape the global agenda on blockchain”.
The association has already hosted Blockchain for Europe Summit on 27 November along with four largest European Parliament groups. In the summit, participating members discussed issues including governance, healthcare, transport, trade, identity, financial market infrastructure and tokens/cryptocurrencies.
“Ripple is delighted to be a founding member of Blockchain for Europe. This is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology,” said Dan Morgan, Head of Regulatory Relations, Europe, Ripple. Ripple is, presently, the second most valuable cryptocurrency in the crypto-sphere with a market capitalization of XXX at press time.
The team members of Bittoria are speculating that the association will also address issues of cryptocurrency regulation in the continent, since cryptocurrencies are connected intricately to blockchain technology. Favourable cryptocurrency regulation, which allows for the growth of cryptocurrencies, but at the same time establishes strict rules and regulations against fraud and manipulative practices, will help expedite the ongoing blockchain-powered revolution in the world.
Bittoria is a cryptocurrency exchange which will enable cryptocurrency enthusiasts to trade in BTC, ETH, XRP and LTC with USD, EUR, GBP and CHF. The exchange will also roll out support for crypto-to-crypto transactions on the same platform soon in European jurisdictions initially and then expand to other parts of the world. Stay tuned for updates!