Cryptocurrency and blockchain adoption is not progressing fast enough, according to some industry representatives. Ripple, NEM and Cardano have decided to set up a consortium to increase the acceptance of digital currencies and blockchain technology in Europe.
“Blockchain for Europe” is the name of the new alliance of concentrated forces in the industry. They want to establish an institution on European soil. The association aims to bring together the interests of blockchain companies, as well as the region as a whole. The consortium will showcase to the industry the true potential of the blockchain and distributed ledger technologies.
Blockchain for Europe
They want to continue to lead the way in creating smart regulations to effectively shape and implement the blockchain’s global agenda. Co-founder of the NEM Foundation, Krifstof Van de Reck, wants to cultivate and establish a lively exchange with opinion leaders and lawmakers of the EU:
“There is a lack of unbiased information, especially when it comes to the open and decentralized application of the technology. By partnering with various stakeholders who have a blockchain at the heart of their business, we want to deliver insights that are not tailored to the agenda of specific organizations or stakeholders.”
Ripples‘ Europe’s Regulatory Relations Director, Dan Morgan, emphasizes that it is very important to help policymakers properly understand the technology and create a regulatory framework that supports innovation rather than slowing it down.
“This is a crucial time for policymakers in Europe who want to develop the right regulatory framework to take advantage of digital assets and technology.”
Cardano representatives also want to have a good relationship with all the important people within the EU so that technology can grow and flourish:
“As part of Emurgo’s mission to advance Cardano’s worldwide adoption, we are keen to work with the European institutions to develop rules and regulations that allow the technology to flourish globally the direction of EU governance.”
Already on November 27th, the association organized a “Blockchain for Europe Summit”. The four largest groups of the European Parliament participated in this summit.