European Parliament Suggests Blockchain to Small Business

May 21, 2018

The European Parliament’s committee for Industry, Research and Energy states, small businesses will gain benefit from implementing blockchain into their activity. The committee members have voted for promoting blockchain-based payment systems for small businesses.

The decision was adopted in the course of seeking ways to reduce costs for third parties in payment systems. As the media release informs, this matter is to be discussed at plenary session of the European Commission.

The committee has also suggested non-commercial ways of using blockchain like data control, supply chain management, register of properties and power market democratization.

“Today the Industry Committee voted univocally in favour of a forward-looking technology that we expect to change the quality of our life, empower SMEs and improve business models in most industrial sectors ... and we aspire to make EU the global leader in the era of the Fourth Industrial Revolution”, as member to the committee Eva Kaili stated.

Remember, in April the European Parliament voted for stricter crypto regulation in Europe.

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