European Parliament member from Greece Eva Kaili appeared at the Ripple Regionals event in London recently.
She talked about the EU’s regulatory approach to blockchain and digital currencies.
Attending Blockchain Conferences
Kaili noted that when she first attended a blockchain conference after being elected to the European Parliament in 2014, she was treated with suspicion by some blockchain advocates.
Speaking at the Andaz hotel in London for the Ripple Regionals event, she said:
“When they heard I was a politician, they didn’t want me there.”
However, the resistance she faced initially made her become more determined to understand the benefits of blockchain technology.
She noted that positivity was essential for the blockchain sector, and said that otherwise:
“The resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”
Positive Approach to Blockchain
Ripple noted that several financial institutions across the world previously had a defensive stance towards digital assets.
However, now some are seeing the value that the technology can bring which is demonstrated by their presence at the Ripple Regionals.
These financial institutions now understand that blockchain could provide their customers access to cheaper, faster and transparent cross-border payments.
Kaili suggests that she is passionate about helping out on the regulatory front by adding more clarity which could remove barriers to blockchain adoption.
She has led a fresh Europe-wide approach to digital assets and blockchains in the past four years.
In 2018, she called for a European Parliament Resolution that would have the European Central Bank (ECB) and the European Commission research what the sources of volatility in crypto markets are and identify possible dangers.
It also called on them to consider the possibility of utilizing cryptocurrencies in the European payment system.
Kaili also wants to work on the standardization of all aspects of blockchain technology, which includes guidelines for smart contracts, defining digital assets, and increasing the transparency of Initial Coin Offerings (ICOs).
She said that they don’t want to hinder innovation and that:
“The resolution is a roadmap to support this very exciting technology. We’ve shown that we are open-minded.”