Global Blockchain Business Council Expands European Foothold

A blockchain advocacy group launched at last year's World Economic Forum is ramping up efforts to promote dialogue in Europe.

Oct 18, 2017 at 9:00 a.m. UTC
Updated Sep 13, 2021 at 7:03 a.m. UTC

The Global Blockchain Business Council is ramping up its presence in Europe.

Announced today, the technology advocacy group co-founded by blockchain services firm Bitfury Group will host a blockchain-focused summit at the European Parliament in Brussels, Belgium, on Wednesday in conjunction with Eva Kaili, a parliament member from Greece.

At the event, the council will brief members of the EU parliament and representatives from the European Commission on the challenges and solutions offered by blockchain technology.

Launched in January at the annual World Economic Forum meetings, the group serves as a forum for educating government and business leaders on blockchain – a mission emphasized by Kaili in statements accompanying the unveiling.

Kaili said:

"Forums like this pave the way for comprehensive collaboration between the private sector and regulators that will enable innovative platforms and smart solutions to be developed – maximizing the potential that blockchain technologies can offer."

In context, the conference is also the latest sign that EU governing bodies have taken an interest in the technology, holding hearings, commissioning research and exploring blockchain use cases.

The common market's open approach to the technology will have important tailwinds for blockchain's development and acceptance, noted Jamie Smith, chief executive officer of the advocacy group.

"The EU is the world's largest economic bloc and among the most important regulatory and rule setting bodies in the world, and its position on blockchain technology will have deep implications across all 28 EU member states," she said.

As part of today's news announcement, the council also revealed it has finalized its incorporation in Geneva, Switzerland.

Royal Palace, Brussels, image via Shutterstock

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