EU Parliament calls for blockchain adoption in trade

posted 6 months ago
The European Parliament (EP) has called for measures to boost blockchain adoption in trade and business across the region. The resolution is titled “Blockchain: a forward-looking trade policy” & sets out how the nascent technology could improve EU trade policies, including free trade and mutual recognition agreements.

Blockchain could improve supply chain transparency, streamline trade processes, reduce costs and corruption, detect tax evasion and improve the security of data, the EP said. Cybersecurity however, remains a key challenge, however. Lastly, the European Parliament reminded the commission that: “The EU has an opportunity to become a leading actor in the field of blockchain and international trade, and that it should be an influential actor in shaping its development globally, together with international partners.”
Tags: blockchain, news