published by The joint research centre of the European Union a Report on the subject of Blockchain. The document with the title “Blockchain Now and Tomorrow,” examines the current state of the Distributed Ledger technology (DLT). It comes to the conclusion that Bitcoin & co. have a huge Potential for the future. Nevertheless, the authors point out risks.
From Polina Khubbeeva
18. September 2019BTC$10.161,50 -0.63%part Facebook Twitter LinkedIn xing mail
The research wing of the European Union (EU), the Science Hub, recently published a Report on the present and the future of Blockchain technology. The joint research centre of the EU deals with the current state of the technology.
The study, entitled “the Blockchain Now and Tomorrow” (in English: Blockchain now and tomorrow), therefore, deals with the opportunities and risks of Distributed Ledger technologies in relation to the economy and society. The authors also draw different Use Cases and regulatory strategies of the Blockchain technology on a global level.
Apparently, China has accordingly the highest number of Blockchain-Start-ups. Worldwide, there continues to be an increase in investments in appropriate companies. The investment volume is, however, of $ 450 million in 2014 to 3.9 billion US dollars in 2017 and $ 7.4 billion in 2018 growing. Of Europe to know the Report of the EU Science Hub, according to less than 20 Start-ups per country. Most of the companies settled in the area of Software and financial services.
EU Science Hub regulatory efforts
emphasizes the authors emphasize the legislative efforts of international organisations such as the European Commission. The Report States that the legislature is working on integrated solution approaches. These include as well as governments and civil society, for example, the industry in its decision-making process. They also for more transparency and the rule of law.
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In the Report of the EU Science Hub concludes:
Blockchain applications can take the Kingdom influence in the political, economic, social, technical and political areas. You will find, for example, in economic and business-based models, as well as in Governance mechanisms and relationship structures of the place. A change in these spheres requires a combination of different areas of knowledge, including Computer science, Economics, public Finance, environmental Sciences, and the Social and policy Sciences.
Despite the potentials, the Report for Blockchain-is applications, stressed mentioned in the Report, the risks that create the technologies. The challenges are, therefore, in the unification of the possibilities for Blockchain technology. The Science Hub, in particular, notes the need for Regulatory Sandboxes in the crypto Business to Overcome any hurdles.
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