Called Blockchain for Europe, the new association has been established by EMURGO/Cardano, Fetch.AI, NEM and Ripple to create a unified voice for the blockchain industry at European level. The group’s mission is to foster the understanding within EU- and member state institutions on the true nature and potential of distributed ledger technology (DLT) and blockchain, and to ensure that upcoming regulation promotes and boosts innovation in Europe. To achieve this goal, the association will engage in conversations with policymakers, relevant industry players and academia.
Kristof Van de Reck, President Europe and co-founder of NEM Foundation, said that there is a lack of unbiased information especially when it comes to the open and decentralized application of blockchain technology. By joining forces with organizations whose businesses originate from DLT and blockchain technology, he said they aim to provide insights which are not tailored to the agenda of specific organizations or stakeholders.
Last month, the association hosted a tech event called Blockchain for Europe Summit, alongside the four largest European Parliament groups. The event brought together stakeholders from around the world, discussing issues such as governance, healthcare, transport, trade, identity, financial market infrastructure and cryptocurrencies. The debate showcased the potential benefits both for policymakers and blockchain originating companies when they engage directly and transparently.
“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.
Toby Simpson, CTO and co-founder of Fetch.AI, said that this is an extraordinary opportunity to guide European policy in a field that will positively change the lives of so many people.
“The convergence of technologies like machine learning, AI and decentralized ledgers delivers the opportunity for a world where technology works more effectively for the benefit of us all,” said Simpson.