European Parliament Calls for Blockchainize Trade

European Parliament Calls for Blockchainize Trade

Brussels is calling the Commission to act and to promote blockchain in trade across the European Union according to a resolution adopted this week. Euro-parliamentarians want officials to work, develop, built networks and legal frameworks to blockchainize trade.

The European Parliament resolution of 13 December 2018 on Blockchain: a forward-looking trade policy looks for the European Commission to work to expand Blockchain applications into the EU free trade agreement and the common area. So countries will be able to improve the exchange between each one and with other states on the planet.

Blockchain technology can be applied for governments to develop a more accessible and more efficient way of sharing and storage legal documents and to implement platforms that enhance trade and exchange of information.

Parliamentarians call “on the Commission to take the lead in the assessment and further development of blockchain technologies, including in specific sectors, such as those covered by the EU’s trade policy,” says the resolution, “and to set up an advisory group on blockchains, which should include experts on anti-money laundering, tax evasion, data protection and organised crime.”

The European Union as a leader in Blockchain

It also calls the European Union and member states to “play a leading role in the process of standardisation and security of blockchain.”

The document invites the Commission to elaborate a strategic document with appropriate directions on adopting blockchain technology in trade, supply chain management and intellectual property.

The whole idea for the resolution is to promote the European Union as a leading actor in blockchain and new technologies and international trade.

The resolution came following the Euro-Mediterranean countries joint declaration about the use of blockchain to transforms their economies signed two weeks ago by Italy, Spain, France, Malta, Cyprus and Portugal.

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