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Malta, along with six southern EU countries, announced an agreement to promote the use and benefits of DLP (distributed ledger technology).
The other countries that include Cyprus, Italy, France, Spain, Portugal and Greece, have announced this in a joint declaration on cooperation between all countries to encourage the adoption of technology.
#Malta 🇲🇹 leads 6 #EUROPEAN UNION🇪🇺 countries (#France 🇫🇷 #Greece 🇬🇷 #Italy 🇮🇹 #Portugal 🇵🇹 #Spain 🇪🇸 e #Cyprus 🇨🇾) in signing the joint declaration on further cooperation in this regard #DLT #Technology 🤝 Malta also to host Southern #Mediterranean Summit on #DigitalEconomy next year pic.twitter.com/Brcw99qtlE
– Government of Malta 🇲🇹 (@MaltaGov) December 4, 2018
All seven countries have made known their position on technology, considering it an ideal policy in the future. Distributed accounting and blockchain technology are announced as an incredible tool that can have a widespread effect on the global economy.
According to the Digital Economy and Society Index, these countries will reap enormous benefits from technology and may be at the forefront of its growth and development.
By signing this agreement on distributed ledger technology, countries can present a united front as they seek to expand their digital agendas. This united front will essentially make them the main advocates of technology in Europe.
Distributed Ledger Technology is becoming increasingly popular due to its potential ability to make the EU an even more democratic state.
Its technology can be implemented in multiple industries and sectors, including shipping, health care, land ownership and management, as well as education.
Here, it will increase accountability among leaders and promote transparency, while helping citizens to regain control of their private information and data.
In fact, some schools in Asia and Europe are using education led book technology, with some of their schools distributing more and more school certificates on the blockchain.
A recent example is India's Jain School of Business and Governance which puts fresh graduate certificates on blockchain, essentially making it easy for potential employers to verify the applicant's academic claims.
All the parties agree that it is the responsibility of their country to promote the adoption and acceptance of the blockchain among its citizens.
To this end, they are committed to creating and disseminating information, as well as educating citizens on the benefits and potential of technology.
According to their joint declaration,
"Any legislation on distribution accounting technologies should take into account the decentralized nature of this technology and should be based on fundamental European principles and technological neutrality".
All seven countries also agreed to meet periodically to review their progress reports, share best practices and explore the possibilities of bilateral / multilateral blockchain projects. They also called on the European Commission to maintain and further promote the European Blockchain partnership.
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