• EMURGO/Cardano, Fetch.AI, NEM and Ripple have come together to form Blockchain for Europe
• The association aims to promote the blockchain industry in Europe and has already hosted their first Summit

The blockchain industry in Europe is about to come much more unified as four firms which consist of EMURGO/Cardano, Fetch.AI, NEM, and Ripple have come together to form Blockchain For Europe.

The association aims to create uniformity in industry practices and foster understanding between its members to help them achieve their goals and truly explore the potential of blockchain technology.

All the founding member companies are businesses that deal in blockchain and there is a view to making Europe a thriving hub for the emerging blockchain industry.

Baby steps

The organization held a Blockchain for Europe Summit on the 27th of November 2018 which included representatives from the four largest European Parliaments.

The summit brought together businesses in the industry, world leaders and so on who discussed blockchain and its application in the world such as in healthcare, transportation, and security.

So far, the founding members have spoken highly of the organization with Dan Morgan, Head of Regulatory Relations, Europe, Ripple, saying:

“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.”

Kristof Van de Reck, President Europe, and co-founder, NEM Foundation, addressed the goal of the organization to provide unbiased information that will move the industry forward, saying:

“There is a lack of unbiased information especially when it comes to the open and decentralized application of the technology. By joining forces with different stakeholders that have blockchain at the core of their business, we aim to provide insights”

Engaging Regulators

One of the ways they blockchain for Europe plans to achieve these goals is to engage in discussion with policymakers around Europe.

One of the reasons for the reluctance of some governments to embrace blockchain technology is their lack of understanding of it.

By giving unbiased information, as Reck stated, the industry is demystified and further adoption can be achieved.

Many countries in Europe have been very open towards blockchain with the UK making use of blockchain in both land registry and telecommunications.