Category Archive: task force

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Europe Blockchain: € 1m to study the distributed ledger

The European Parliament might start to study the blockchain technology with a task force of € 1m. 
A member of the European Parliament, in fact, suggested to create a program focused on studying digital currencies and the distributed ledger. 

Europe Blockchain: a legislative objective

This news comes a few months after the legislative arm of the European Union approved a task force proposed previously this year by Jakob von Weizsäcker.
Von Weisäcker now asks for financial support to fund the program.
He explained that the task force should be organized in order to position the European Commission at the forefront of an innovative technology.
“This pilot project aims at creating a Task Force, staffed with regulatory and technical experts, in order to build up technical expertise, regulators capacity and develop use cases, especially for governmental applications, in the field of distributed ledger technology (DLT) as proposed in the Resolution of the European Parliament on virtual currencies.”
The task force project is one of the most important legislative efforts that came from Europe about the blockchain.
“Too early hard regulatory measures would stifle innovation and hamper its potential. Waiting too long might lead to a materialization of systemic risks,” commented Von Weisäcker.

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Blockchain is the “perfect technology” according to the European Parliament

european parliament bitcoin

During the last week, a European parliament member gave a speech about consumer protection for the latest campaign that aims at realizing new rules related to the blockchain.

The perfect technology

In fact, the Lithuania representative Antanas Guoga defined the blockchain a “perfect technology” during a speech before the Internal Market for Consumer Protection Committee, which is thinking about advancing a new proposal for cryptocurrencies.
Guoga explained:
“I’m sure a lot of us politicians haven’t got any bitcoins at the moment and we’re trying to make laws for something we don’t understand. I would suggest everyone to get some bitcoins and really learn about the system. It’s a huge leap forward and a huge opportunity.”
Guoga wants the European Commission to open a task force to monitor digital currencies.

The committee said yes

A voting on the proposal was held on April 26th and the result was 54-to-1 members that want the creation of a cryptocurrency task force.
This proposal will be voted by the entire European Parliament in the near future.

Watch the full video of the speech

Click here to listen to the entire Antanas Guoga’s speech.

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Amelia Tomasicchio