EU Parliament adopted a new technology integration plan

Last week, CoinDesk’s Consensus 2018 was held in New York, which attracted a lot of public attention. Consensus 2018 hosted more than 250 speakers and thousands of present leaders in the field of industry, entrepreneurship, investment companies, startups, banking and financial institutions, as well as people from the world of marketing, science, and leading legislation institutions. One of the speakers at this meeting was Eva Kaili, member of the Industry, Research and Energy Committee at the EU Parliament. In her speech on Monday, she said that the European Union has begun adopting a blockchain technology, and in the coming period, significant new innovations are expected in this direction. As we conclude from this speech, the EU Parliament is ready to harmonize the use of blockchain technology with legal regulations in the European Union.

It will be a challenging undertaking because the European Parliament does not have enough experts and scientists in this domain and that the process of training leaders and politicians will be complicated.

However, the Industry, Research, and Energy Committee have already passed the introduction of blockchain technology as the most innovate and rapidly growing, on Wednesday. The Commission highlighted a marked growth of interest in macroeconomics for new achievements, and that it is necessary to develop in a proper direction and to establish the foundations of a new technological revolution.

Blockchain can improve the quality of life and accelerate the growth of small businesses

Blockchain technology is primarily recommended for small companies, to reduce the costs of mediating payments. Positive aspects, such as the non-monetary use of blockchain, supply chain management, as well as the decentralized character of the system, are highlighted.

The committee plans to set questions to the EU Committee at the next month’s session on the issue. The Commission also requested to implement the financing of blockchain projects into the EU budget after 2020.

The EU wants to lead a technological revolution

Recall that in February 2017, the European Parliamentary Research Service (EPRS) published a report entitled “How blockchain technology could change our lives” where it is described as “outstanding, complex and fast-moving” as well as the growing the number of citizens, investors, businesses or legislations across Europe interested in it.

As Kaili stated after this meeting, the EU aims to integrate new technology from which, not only will it have economic growth and development, but can become a leader in the “Fourth Technological Revolution.” Financially, beyond the economic view of things – there is a need to create a new blockchain – service generation.


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