Ripple Features In New EU Lobby For Blockchain

There is a new bloc in town, one that you did not see coming. EMURGO/Cardano, Fetch.AI, NEM and Ripple, four giant blockhain companies, have formed a new association which would represent their interests in Europe.

(Read about: E.U. International Association for Trusted Blockchain Applications -IATBA)

This new lobby has been termed ‘Blockchain for Europe’ and it aims at bringing together all blockchain companies that originate in Europe. The group hopes to foster greater acceptance and understanding of the potential of distributed ledger (DLT) and blockchain technology.

It is indeed unfortunate that the policy debate in Europe has been volatile and no concrete stance has been presented by the EU. This association will work towards advocating for better policy and regulations that encourage and boost the innovation in technology sector in Europe.

Dan Morgan, Head of Regulatory Relations, Europe, Ripple, said:

“Ripple is delighted to be a founding member of Blockchain for Europe. 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.”

(Read about: Pros and Cons of Ripple)

The members of this lobby all share a unified goal of making this association responsible for realizing the global vision of these companies, which is to make Europe the global frontrunner in blockchain technology.

Kristof Van de Reck, President Europe and co-founder, NEM Foundation said:

“We are delighted to be one of the founding members of Blockchain for Europe. There is a lack of unbiased information especially when it comes to the open and decentralised application of the technology. By joining forces with different stakeholders that have blockchain at the core of their business, we aim to provide insights which are not tailored to the agenda of specific organisations or stakeholders.”

(Read about: Crypto Market Update: NEM On The Rise)

Toby Simpson, CTO and co-founder, Fetch.AI said:

“This is an extraordinary opportunity to guide European policy in a field that will positively change the lives of so many people. The convergence of technologies like machine learning, AI and decentralised ledgers delivers the opportunity for a world where technology works more effectively for the benefit of us all.”

Manmeet Singh, CIO, EMURGO, commented:

“Within the scope of EMURGO’s mission to drive the adoption of Cardano globally, we are very keen to work with the European institutions in crafting the rules and regulations which will enable blockchain technology to thrive globally, thereby expanding the impact of our third generation blockchain Cardano, all under the leadership of EU governance.”

(Read: A Beginner’s Guide to Cardano)

Could this association could pave the way for Europe’s global domination of the blockchain industry? Only time will tell.