13:11 GMT19 January 2021
Listen Live
    Get short URL
    0 23

    BRUSSELS (Sputnik) - A total of 22 European Union countries signed on Tuesday a Declaration on the establishment of a European Blockchain Partnership, the European Commission said in its statement.

    "22 European countries signed today a Declaration on the establishment of a European Blockchain Partnership. The Partnership will be a vehicle for cooperation amongst Member States to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide blockchain applications across the Digital Single Market for the benefit of the public and private sectors," the statement read.

    The commission also stressed that this move should allow Europe to continue playing a leading role in the development and implementation of blockchain technologies.

    According to the commission, the signatories of the declaration are Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.

    Blockchain technology is a system of organization of distributed databases. It allows for various transactions to be registered and labeled with a time stamp, with the relevant information kept in a distributed database available to all network users.

    One of the most well-known applications of the technology is Bitcoin, a decentralized cryptocurrency and digital payment system.


    Google May Roll Out Its Own Blockchain-Based Technology
    Links to Child Sex Abuse & Chats About Money Laundering Found on Blockchain
    CEO of Swiss Company Explains Prospects of Using Blockchain in Elections
    Quantum Blockchain: How Physicists Will Stage a Cryptoworld IT Revolution
    This is How Russia is Utilizing Blockchain to Enhance Democracy
    agreement, Blockchain, European Commission, Europe, EU
    Community standardsDiscussion