Ripple and NEM open the European Blockchain association in an effort to get good results from cryptographic regulators

Ripple and NEM collaborate to launch the European Blockchain association in an attempt to get the positive side of regulators

Ripple (XRP) and NEM (XEM) they joined to launch a project called Blockchain for Europe. This new association will represent the interests of companies operating in the blockchain and cryptocurrency sectors throughout the European Union. The story was originally reported by the Next Web's Hard Fork.

Blockchain for Europe claims to be the first "unified voice" for the continent industry and wants to promote technology in the region, unlocking its full potential at the same time.

One of main parts of the Blockchain program for Europe It is to make sure that the European Union and all the states that are part of the union focus on doing the best to develop blockchain technology by developing a positive regulation that will stimulate the growth of the sector.

The Responsible for regulatory regulatory relations, Dan Morgan, said that the company is simply pleased to be a founding member of such an important initiative. He also stated that this is a critical moment for countries to develop the right framework and get benefits while other countries are not facing them in doing so.

The co-founder of NEM, Kristof Van de Reck, complained about the lack of impartial information on decentralization and blockchain technology. Therefore, they want to offer insights that are not "adapted to the agenda of specific stakeholder organizations", which is a phrase that generally means that it wants to convince people that its agenda is the right one.

Despite the fact NEM and Ripple most likely they are looking for themselves, the association will obviously be good for all companies related to the crypt. Promoting the image of the industry would be beneficial to everyone, so most companies will leave it Ripple and NEM have their way.

European regulators they are inclined to consult the organization when they develop the laws and, if the effort is actually successful, it could mean that Europe will become much more pro-cryptic than it already is, which may mean that ; industry will grow there.

Europe, Blockchain and regulation

While there is sincerity in these companies that say they want to push the blockchain technology not only for their well-being but also for everyone, it should be noted that the blockchain is still in its infancy, an opinion that also has the original report of The Next Web & # 39; s Hard Fork.

The original story seemed worried that the technology could still be full of problems and that it had to improve to become more powerful and famous, so companies must be careful not to overdo their marketing.

Luckily, Europe he is slowly but surely entering the blockchain train. The European Commission has set up a forum and an observatory for blockchain technology, for example, so that it can decide how to regulate it. There is a real effort to fine-tune practices and technology.

Unfortunately, the new General Data Protection Regulation (GDPR), created this year for Europe, could clash with some registers without authorization like Bitcoin, so the future is still very uncertain.