Below you can read the full Europe Bitcoin research published by the European Parliament a few days ago.
It is related to the blockchain technology and digital currencies, exploring distributed ledger use cases including digital payments, patent protection, smart contracts and online voting.
This research provides an educational point of view for EU’s legislative members, so probably we will experience a new Bitcoin regulation in the next future.
Researchers who works at the EU Parliament have studied several aspects of the distributed ledger in the past.
For example, a working group sponsored by the Parliament studied how the blockchain’s power to secure data could provide transparency during elections.
“Although blockchains are not the solution for every problem, and even if they will not revolutionize every aspect of our lives, they could have a substantial impact in many areas, and it is necessary to be prepared for the challenges and opportunities they present.”
The research suggests a few possible approaches for the European lawmakers, who recently approved the creation for a new task force focused on blockchain and digital currencies.
Also, the paper suggests more future explorations by saying that regulators could regulate and yield legal legitimacy to digital currencies transactions. More and more countries are regulating bitcoin and other virtual currencies during the last few monts.
The document’s authors explained also that this revolutionary techbology could provide many benefits to European citizens, even if it seems to be applicable only in a few cases.
“While the most idealistic and revolutionary visions of blockchain development will probably remain no more than visions, even moderate implementation of blockchain may still promote some degree of redistribution and transparency,” explained the authors in the document.
Click here to read the full Europe Bitcoin document for free.
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