Seven EU member states sign declaration to foster blockchain use

Seven southern EU member states have signed a declaration to foster the use of distributed ledger technology (DLT) beyond cryptocurrencies, The Financial Times reported.

On Tuesday, the group, called the “Mediterranean seven,” comprising of France, Italy, Spain, Malta, Cyprus, Portugal and Spain, signed the declaration to promote DLT, which, the governments believe, can be a “game changer” to boost the efficiency of southern EU economies.

According to the group, government services such as “education, transport, mobility, shipping, Land Registry, customs, company registry, and healthcare” can be “transformed” with the use of DLT. Blockchain evangelists believe that the technology offers more stringent privacy protections for citizens and can help reduce the bureaucratic burden on governments providing “e-services”.

“This can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information” the declaration reads.

Earlier in February, the EC launched the EU Blockchain Observatory and Forum to boost blockchain activities in the region. Later in April, it announced that 22 member countries have signed a declaration on the establishment of a European Blockchain Partnership (EBP). The EBP has now been signed by a total of 27 member countries.

More recently, four major names in the blockchain space – EMURGO/Cardano, Fetch.AI, NEM and Ripple – teamed up to launch “Blockchain for Europe” association. They aim to create a “unified voice” for the blockchain industry at European level.