Back in Brussels — European Parliament speaks on Blockchain Regulations

Yesterday, on Wednesday, June 6th, Greek S&D member Eva Kaili of the European Parliament hosted “The Future of Blockchain and DLTs- Next Step by EU” event. Our Marketing and Communications manager Wilhelm Roth traveled to Brussels with our CEO Eddie Postma to listen to what the European Parliament had to say.

Earlier this year, on May 16th, Ms. Kaili wrote a resolution on the subject of EU and blockchain development. On that same day, the European Parliament published an article stating the EU aspires to “make the EU a leading player”. That same article quotes Eva Kaili calling for “open-minded, progressive and innovation-friendly regulation”.

During the event yesterday, Ms Kaili once more called for well-thought out regulations. She repeats the sentiments as stated in the May 16th article, saying that even though innovation should not be hampered, one needs to keep in mind the risks that evolve alongside an emerging technology.

“It is not smart to regulate the technology per se, but rather its uses and the sectors that adopt this technology in their business models. Consumer protection and investor protection come first” — Eva Kaili, European Parliament

After the event, Wilhelm and Eddie had some time to speak to Eva Kaili. “We talked about the future of smart cities”, Wilhelm said, “and the need for Greek cities to push forward and re-evaluate the way they look at infrastructure. The best way to do this is by utilizing Blockchain, and we as Parksen can provide the solution from our side.”

Parksen CEO Eddie Postma and MEP Eva Kaili

So are the EU really willing to stimulate Blockchain development? According to the article on their site, they have currently invested over 80 million euros in projects that are supporting the use of Blockchain. The European Commission estimates that this will rise to around 300 million euros by 2020.

The seeming willingness of the European Parliament to invest in the healthy development of Blockchain makes us over at Parksen smile with excitement and anticipation. We believe that they truly want to incorporate this technology into every-day life, and we are looking forward to future cooperation.

Over the coming months, we will attend a great deal of events and share the details of those meetings with all of you via Medium. As always, thank you for checking in with us. Keep an eye on our social media to stay up-to-date on our all travels.

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