Via a press release yesterday, 5th of December, on the UK-based website Finextra, the association of Ripple, NEM, EMURGO/Cardano and Fetch.AI have been revealed as founding members of a “Blockchain for Europe”.
The goal of this association will be to educate the EU and member-state institutions on the potential of the blockchain technology and the distributed ledger and to solve the inconsistency in information due to the fragmented nature of it coming from outside and inside sources of the blockchain sector. That of course will also touch inevitably in the need to present regulations to promote innovation in the European region. As expressed by the European Head of Regulatory Relations for Ripple, Dan Morgan: “This is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology.”
Since Europe in general has held a more optimistic though cautious approach to cryptocurrencies and blockchain this Association might be a positive move towards the growth of rules and regulations needed for the technology to expand its reach worldwide.