There is no denying European policymakers are keeping a very close eye on the blockchain ecosystem. So much even that a new trade body has been established, which goes by the name of EDCAB. Exciting times are ahead for blockchain innovation in Europe, assuming policymakers can keep up with the trends.
The EDCAB Serves as a Public Blockchain Policy Platform
Although digital currency and blockchain technology have gone entirely unregulated for quite some in Europe, things are coming to a change in the not-so-distant future. Now that the European Virtual Currency industry has formed a new trade body, the policy on digital currencies and distributed ledger technology will be in the balance.
It has to be said, though, the creation of the EDCAB will [hopefully] be a positive move for the legitimization of the virtual currency ecosystem. Both Bitcoin and blockchain are often referred to as the “Wild West” since there are no rules, and the creation of the EDCAB will change that. Plus, they seem to be taking the right approach by ensuring the policy platform is public, rather than holding meetings behind closed doors.