Seven EU countries establish group promoting blockchain

December 6, 2018

Summary:

  • 7 southern European countries to promote use of blockchain

  • Four blockchain companies create European blockchain association

  • Bitcoin (BITCOIN on xStation5) gains 2%, unlike its major peers

The cryptocurrency market has begun today’s trading with a fall. However, there is one exception as Bitcoin (BITCOIN on xStation5), unlike other major cryptocurrencies, has risen around 2%. On the other hand, Dash (DASH on xStation5) has experienced nearly a 9% drop. When we take a look at the crypto market cap, we could observe another slight decline of that value compared to that seen yesterday - the capitalization of the cryptocurrency market stands a notch below the $123 billion handle this morning.

Bitcoin (BITCOIN on xStation5) saw a 2% uptick, but the cryptocurrency still trades close to the late-November’s lows. Source: xStation5

Mediterranean countries to promote blockchain technology

Seven European countries, including France, Italy, Spain, Portugal, Malta and Cyprus, established a group, named “Mediterranean Seven”, which will promote the use of blockchain technology in their region. The countries in the joint declaration, signed on December 4 in Brussels, point to some advantages of distributed ledger technologies for southern European countries. The participants believe that blockchain technology could help their economies. They believe also that “Distributed Ledger Technologies, along with other emerging technologies like 5G, Artificial Intelligence and Internet of Things could be a strong contributor that will help Southern European countries transform”, as the joint document reports.  

Dash (DASH on xStation5) has been one of the worst performing major cryptocurrencies as it’s experienced a 9% decline. As we could observe in the chart, recent weeks generally have not been positive for this cryptocurrency. Source: xStation5

Ripple and others create a blockchain association focused on Europe

Four blockchain companies - Ripple, NEM, EMURGO/Cardano and Fetch.AI - created a blockchain association, called “Blockchain for Europe”. The lobbying group aims to represent the mentioned members as the association on the Old Continent. Four founding members “share a common vision of Europe becoming the global frontrunner in blockchain technology”, as the press release reports. Further, we could read in the document that “Blockchain for Europe looks forward to engage in conversations with policymakers, relevant industry players and academia”. All founders of the association are companies whose businesses have their origin in blockchain and distributed ledger technologies.

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