Joint declaration on distributed ledger technologies signed by seven Member States

joint declaration on distributed ledger technologies
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Seven southern European countries have signed a joint declaration on distributed ledger technologies, agreeing to collaborate in promoting the use of emerging technologies.

Cyprus, France, Greece, Italy, Malta, Portugal and Spain – collectively referred to as the Southern European Countries – have agreed to work together to promote distributed ledger technologies, 5g connectivity, Internet of Things and artificial intelligence; in order to boost the economies of southern Europe. The joint declaration on distributed ledger technologies lays out the Southern European Countries’ intention to become world leaders in emerging technologies. The signatories pledge to work towards expanding their “digital ecosystem” through investment in research and innovation, with the potential to develop collaborative cross-border distributed ledger technologies projects.

The joint declaration on distributed ledger technologies states: “As a technology based on trust, we see Distributed Ledger Technologies as being a potential game changer using – inter alia smart contracts in areas such as certifying product origin, education, transport, mobility, shipping, land registry, customs, company registry, and healthcare amongst others to transform the way that such services are delivered. This can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better customs collection and better access to public information.”

Representatives of the Southern European Countries will meet periodically going forward to share the progress made in their respective countries and ensure best practice is followed, as laid out in the joint declaration on distributed ledger technologies.

The EU has taken steps to promote blockchain use and development across Member States: the joint declaration on distributed ledger technologies calls on the European Commission to continue its work with the EU-wide European Blockchain Partnership, saying: “We believe that any legislation on Distributed Ledger Technologies should take into account the decentralized nature of such technology and should be based on European fundamental principles and technological neutrality.”

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