Ripple, NEM, Cardano’s venture builder to promote blockchain in EU
Ripple, NEM, Emurgo, Cardano’s Venture builder, and Fetch AI are launching Blockchain for Europe, an association for the blockchain industry players of Europe. The association seeks to be the voice of all the blockchain and cryptocurrency businesses of Europe, according to an NEM blog. It aims to educate people within the EU about the technology and the true genius of the digital ledger technology.
The motive behind this association is also to soothe the regulators. They want to ensure that the European Union [EU] and the member states draft regulations that will foster the growth of the technology on European soil.
The EU seems to be open to the idea of blockchain technology. While they praise features like transparency, improved traceability and security, they seem to be cold to cryptocurrencies. They say that cryptocurrencies are obscure and should not be associated with the digital ledger technology. They are currently exploring private or permissioned blockchain which doesn’t offer true decentralization. Numerous governments from across the globe are shying away from cryptocurrencies as they are susceptible to frauds.
“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 Ripple’s Dan Morgan, Head of Regulatory Relations in Europe.
“What makes this association special is its focus on promoting trust in blockchain technology among public authorities and citizens. It will also be able to communicate with citizens about blockchain, a technology which should not be associated with obscure cryptocurrencies but with transparency traceability and a secure environment,” said Director-General for communications networks, content, and technology, Roberto Viola.
The association intends to become the “global frontrunner of the blockchain technology”. This is an attempt by Ripple, NEM, Emurgo and Fetch AI to drive the adoption of digital ledger technology across different industries across Europe and the world. The association can also help the regulatory authorities understand the technology to draft fair regulations for the industry.
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