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European Parliament Calls for Increased Blockchain Adoption in Trade

The European Parliament has called for an increase in the adoption of blockchain technology in trade in a new resolution.

The European Parliament has called for measures to increase the adoption of blockchain technology in trade and administration with a provisional resolution published on Dec. 13.

The resolution, dubbed “Blockchain: a forward-looking trade policy,” generally considers blockchain “as a private, permissioned distributed ledger technology (DLT)” but also admits that “various case studies and industries will derive different utility from a mixture of private/public, permissioned/permissionless blockchains.”

The resolution notes that Free Trade Agreements (FTAs) in the EU are underutilized — only 67 percent of EU exporters and 90 percent of EU importers make use of the preferential tariffs — and that blockchain could help improve these trade policies.

The authors of the resolution state…

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2018-12-14 20:58:00

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Written by Cointelegraph

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