Tech 2 years ago

CoinGeek

European Commission Outlines Plans for Regulation on the Blockchain

The European Commission, the executive arm of the European Union, has announced plans that would see the creation of a proof-of-concept blockchain model for dealing with regulation.

The project, detailed in a draft communication briefing from the Commission to the European Central Bank and the European Parliament, aims to explore the concept of a blockchain for regulation further, while helping raise awareness of the technology across member states.

A public consultation is to be launched as the first step in the project, which it is hoped could pave the way for a blockchain-based future for regulation throughout the region, as well as exploring other new financial technologies.

According to the Commission’s paper, the project could help bolster the understanding and development of blockchain solutions across member state governments and EU agencies.

“This work will also benefit from specific funding from the European Parliament for a pilot project aimed at reinforcing the capacity and technical expertise of national regulators with regard to distributed ledger technology.”

The latest project is only the latest move from the European Union to embrace blockchain technology.

In February, the Commission revealed it was already progressing several blockchain trials for public administration functions, designed to improve efficiency and transparency while reducing cost in administering public sector policy objectives.

It also comes at a time where the Commission appears to be alert to the need for further regulation, particularly as far as digital currencies are concerned.

Cash transaction limits for digital currencies, as well as more active oversight of business use cases for the blockchain, are among some of the proposals already working their way through the commission.

Further support for developing the technology will be welcomed by analysts, and reflects a growing trend amongst governments and public sector authorities globally towards embracing distributed ledger technology.

With potential applications and use cases in a number of sectors and public scenarios, from finance to agriculture and shipping, development of technologies on the blockchain is widely considered to hold the key to benefits including significant cost savings, improved recording, tracking and compliance, and greater efficiency in processing transactional data.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

COMMENT

First EU blockchain hackathon offers €100K prize – Blockchain News

[…] event and the actions by the European Commission to regulate blockchain shows countries are willing to accept blockchain within their […]

Your comment is awaiting moderation.

First EU blockchain hackathon offers €100K prize – Online Crypto News

[…] event and the actions by the European Commission to regulate blockchain shows countries are willing to accept blockchain within their […]

Your comment is awaiting moderation.

First EU blockchain hackathon offers €100K prize - Wiredfocus

[…] event and the actions by the European Commission to regulate blockchain shows countries are willing to accept blockchain within their […]

Your comment is awaiting moderation.

First EU blockchain hackathon offers €100K prize – CRYPTOTIMES.MOBI

[…] event and the actions by the European Commission to regulate blockchain shows countries are willing to accept blockchain within their […]

Your comment is awaiting moderation.

First EU blockchain hackathon offers €100K prize | Coin Crypto Rama

[…] event and the actions by the European Commission to regulate blockchain shows countries are willing to accept blockchain within their […]

Your comment is awaiting moderation.

empresas informática

… [Trackback]

[…] Find More on|Find More|Read More Informations here|There you will find 2740 more Informations|Infos to that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

Hoger in Google

… [Trackback]

[…] Find More on|Find More|Find More Informations here|Here you can find 61496 more Informations|Informations on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

seo salt lake city

… [Trackback]

[…] Read More on|Read More|Read More Infos here|There you will find 14074 more Infos|Infos to that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

green coffee

… [Trackback]

[…] Read More on|Read More|Read More Infos here|There you will find 54950 more Infos|Infos on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

http://www.laanpere.eu/estcore/Leads_guaranteed_with_adwords

… [Trackback]

[…] Find More on|Find More|Read More Informations here|Here you can find 70206 additional Informations|Informations on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

clothing for older women

… [Trackback]

[…] Read More here|Read More|Find More Informations here|There you can find 89935 more Informations|Informations on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

Appliance repair North York

… [Trackback]

[…] Read More on|Read More|Read More Infos here|There you can find 69508 additional Infos|Informations on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

Pharmacokinetic Studies

… [Trackback]

[…] Read More here|Read More|Find More Infos here|Here you will find 8244 more Infos|Informations to that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

GVK BIO Recent Updates

… [Trackback]

[…] Read More on|Read More|Find More Informations here|There you will find 79781 more Informations|Infos on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

aws alkhazraji

… [Trackback]

[…] Find More on|Find More|Read More Informations here|There you will find 58786 additional Informations|Informations on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

real estate agent

… [Trackback]

[…] Find More here|Find More|Find More Informations here|Here you can find 7826 more Informations|Informations to that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

manutenção informatica

… [Trackback]

[…] Find More here|Find More|Read More Infos here|Here you will find 68692 additional Infos|Infos on that Topic: coingeek.com/european-commission-outlines-plans-regulation-blockchain/ […]

Your comment is awaiting moderation.

Add a Comment

lastest news

Developer shows how double spending can occur on Bitcoin SV misses mark

Tech 3 hours ago

Developer shows how double spending can occur on Bitcoin SV misses mark

One of the reasons cryptocurrency hasn’t taken off as an alternative to fiat as quickly as many enthusiasts would like is because there is generally a wait time associated with the transactions. This delay is ...

Read More
Craig Wright explains safety of zero-confirmation transactions

Tech 9 hours ago

Craig Wright explains safety of zero-confirmation transactions

Merchants can accept payments with confidence when engaging in instant transactions, as Bitcoin SV is suited for real-world trade. nChain chief scientist Dr. Craig Wright explained in a blog post that double spend attacks, where ...

Read More
Binance launches sub-accounts to service institutional investors

Tech 11 hours ago

Binance launches sub-accounts to service institutional investors

Binance has announced the launch of a sub-account feature that brings improved managerial control and asset audit tools for institutional account holders. The new feature will allow these account holders to create up to 200 ...

Read More