World leading blockchain firms Ripple, Cardano, Fetch, and AI has recently inked a joint statement to form a lobbying group in Europe, Finance Magnates reported December 5.
Touted as the “first credible attempt to create a unified voice for the blockchain industry at European level,” the lobbying group Blockchain for Europe was founded in an effort promote blockchain-based innovations in cooperation with regulators while educating Europeans about the nascent technology.
As Dan Morgan, Head of Regulatory Relations for Europe at Ripple, stated in the announcement:
“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.”
Like any lobbying group, it comes as no surprise that Blockchain for Europe is also working with European Union (EU) institutions to see to it that prevailing regulations do not curb potential innovations within the blockchain sphere.
In addition to forming a lobbying group, the companies also disclosed plans of working with EU member states in an effort to provide educational information on the “true nature and potential” of blockchain technology, a welcome development given the massive volume of misinformation spreading around in relation to blockchain Ether.
As it stands, the group has already hosted its inaugural summit in November, attracting four of the largest groups in the EU parliament.
As Fetch.AI CTO and co-founder Toby Simpson added:
“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.”