Blockchain Will “Change Lives” of Citizens: European Parliament Report

The European Parliament has published a dedicated report examining how Blockchain will “change lives” of EU citizens.

The document, originally completed in February, is intended as an “accessible entry point” into understanding Blockchain, its authors say.

“Blockchain technology is of increasing interest to citizens, businesses and legislators across the European Union,” they continue.

“This report is aimed at providing a point of entry for those curious about blockchain technology, so as to stimulate interest and provoke discussion around its potential impact.”

In its desire to “stimulate interest,” the European Parliament follows the broadly positive noises which have come from the umbrella jurisdiction thus far.

The tone is in stark contrast to that taken on cryptocurrencies, however, with legislators proposing draconian controls on transactions which would even involve personal identities of users being linked to wallets.

That perspective is also apparent in the Blockchain report where the technology’s characteristics cross paths with those of Bitcoin itself.

“In its purest form [Blockchain] promotes a redistribution of power from central actors across wide communities of peers,” the report concludes.

“While the most idealistic and revolutionary visions of blockchain development will probably remain no more than visions, even moderate implementation of blockchain may still promote some degree of redistribution and transparency.”

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