EU includes smart contracts, ICOs and blockchain in its 2018 Fintech development strategy
The European Commission released its fintech sector strategy for 2018 this Thursday. Among other things, the department intends to focus its efforts on improving new technologies such as blockchain, and to open a research organization in the second quarter of this year..
“Technologies such as blockchain have the potential to bring radical change to the financial services sector and beyond. We need to create an enabling framework to enable innovation to thrive while managing risk and protecting customers, ”said Maria Gabriel, Commissioner for the Digital Economy and Society.
The agency’s report highlighted a number of topics that it intends to tackle this year, including bringing legal clarity to smart contracts, ICOs and other aspects related to blockchain technology..
According to the document, since the beginning of this year, the European Union has already revised the Payment Services Directive. From now on, banks operating in the region are required to provide their own communication channels, such as APIs, to blockchain applications that may need them to make payments.
Recall that the EU’s intention to introduce uniform standards for blockchain companies became known at the beginning of the week..
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