“Mediterranean Seven”

“Mediterranean Seven”

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The advancement of Blockchain in Southern Europe.

editerranean Seven (What a catchy name right?) : The Superhero League of Southern Europe that have come to battle all lack of transparency within governments, banks, and institutions, and to boost economic well-being in the name of Blockchain.

The blockchain in case you are not familiar with it, is a distributed ledger, the base technology of cryptocurrency.

Mediterranean Seven is the name given to the seven EUnations in Southern Europe who have joined together to promote the use of blockchain technology within government services to the better overall economic health of all countries involved.

On December 4th, 2018, after the G20 Summit, Cyprus, France, Greece, Italy, Malta, Portugal, and Spain signed an agreement called Southern European Countries Ministerial Declaration on Distributed Ledger Technologies (DTL), in Brussels, Belgium, a 10-point-declaration promising to further the blockchain technology in various departments.

Representatives of Malta, France, Greece, Italy, Portugal, Spain and Cyprus agreeing to promote and work further within the blockchain sphere.

“We view the digital sphere as an ideal policy area to embark on further cooperation. Together, we wish to reflect on our forward-looking vision to make Southern Europe a leader on emerging technologies, such as Distributed Ledger Technologies;” — First Declaration of the Southern European Countries Ministerial Declaration on Distributed Ledger Technologies

G20 is a forum representing 20 of the biggest economies in the world to monitor and regulate the world’s economy and in this case cryptocurrency. They recently agreed to regulate cryptos.

Apparently, Malta is leading the way by the hands of Silvio Schembri, Malta´s Minister for Innovation. The country has been far ahead in adopting cryptocurrency and blockchain. Recently, they came up with a set of cryptocurrency blockchain regulations or three bills per se, becoming the first country to do so effectively and creating an ideal ecosystem for innovative technology.

“The ultimate message we want to convey to investors who operate in the DLT sphere is that they are welcomed in Malta. We think that we have the best legislative framework a country has to offer. Apart from that, the government here has a can do approach and is very business friendly. We believe in this industry. Blockchain is the future and the future is digital.” –Silvio Schembri said in a Forbs Interview back in July 31st 2018, who has been a long time cryptocurrency and blockchain enthusiast.

The M7 is envisioning becoming the leading region in the blockchain sector in all Europe to transform education, transport, mobility, shipping, land registry, customs, company registry, health care and more.

When compared to the U.S. and Asia most of Europe´s regional cryptocurrency markets remain significantly weak according to ccn.com.

They believe that DLT along with other technologies like 5GAI, and IOTcould be a strong contributor that will benefit Southern European countries and help change how they experience and expand their digital ecosystem, research, development, and innovation.

They also stated in their declaration how they believe DLT can result in further democratization in Southern Europe, better assistance in the Mediterranean basin, transforming economies, and society, into a truly digitized world, advancing e-government, reducing bureaucratic burdens and managing public information with ease and security.

All in attempt an to promote the blockchain technology outside of cryptos, the governments say DLT can be a game-changer to boost the efficiency of Southern EU economies.

Let us know your thoughts in the comments.

Can blockchain outshine cryptos?

The Winco Team

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