According to a press release on December 5th, Four major blockchain companies have formed a “Blockchain for Europe” Association. The association's objective is to promote the understanding and proactive regulation of blockchain and other distributed ledger (DLT) technologies across the continent.
The four participant companies are Ripple, the NEM Foundation, “smart ledger” development firm Fetch.A and Emurgo – which supports commercial ventures based on the Cardano blockchain.
The newly-formed "Blockchain for Europe" association will aim to educate those in Europe about the technology’s potential. The association will also advocate for future smart regulation and help the continent shape the global agenda on blockchain. It’s aim is also to address the European Union's “fragmented” policy debate around blockchain, which they claim is skewed by “inconsistent” information from those outside the emerging sector.
Dan Morgan, Head of Regulatory Relations, Europe, Ripple, said: “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.”
Recently on November 27th, the Association hosted a Blockchain for Europe Summit at the European Parliament (EP) in Brussels, together with the four largest EP groups: The Alliance of Liberals and Democrats for Europe (ALDE), The European People's Party group (EPP), European Conservatives and Reformists (ECR), and The Progressive Alliance of Socialists and Democrats (S&D).
The international conference addressed blockchain’s potential across multiple sectors and use cases, including tokens/ cryptocurrencies, governance, healthcare, transport, trade, identity, and financial market infrastructure.