Prime Minister Of Greece Praises “Historic” Eurogroup Deal
After Greece began implementing capital controls in the country and shutting down banks to fully manage the flow of finances during its debt crisis, countless investors began hunting for Bitcoin on digital trading platforms. This raises the question of whether or not cryptocurrency-related technology will thrive within Greek markets.
After the nation’s prime minister and president shook hands on a new Eurogroup agreement which promises to make the country’s debt more manageable, June 21st marked a historic day for Greece.
The EU and its members are collaborating on an effort to pour newfound technological advancements- including crypto and block technology- into the economy, hoping to maximize profits and income as well as a general competitiveness between companies. The aim of these initiatives is to result in even more improvements for technology and the financial market.
The European Commission was also strongly recommended to provide the necessary support towards startups, businessmen and elite creative talent that display a promising future and intention to expand internationally. Another initiative by the EC was the creation of the BOF, a network designed to aid sister-states in sharing knowledge, information, technology and more amongst each other, especially when concerning blockchain technology.
Out of the 28 members of the European Union, 24 have signed the joint blockchain agreement. The partnership will consist of a beneficial exchange of expertise and data surrounding technology as well as advice on the regulations and laws of cryptocurrency trading and exchanges.
The EPC revealed the benefits associated with accepting DLT. A chair member explained that the technology behind DLT and blockchain will have a positive effect on many areas, and expressed the need to remain open-minded and accepting of regulations to be implemented.
The organization asked for officials to look further into digital contracts- explaining that they were the formative components of any DLT- and applying them to the open digital market shared between members. This will ensure a completely free and open exchange of information across member borders.
Many experts agree that DLT is the one this century’s greatest innovations, although others continue asking questions regarding the taxing, regulation and eventual normalization of cryptocurrencies and related tech.