Using the blockchain technology in areas like energy, supply chains, and governance would benefit small companies by reducing their costs and empower citizens, according to an EU press release published on May 16.
An EU committee approved the recommendations on how to integrate the blockchain technology to reduce intermediation costs for small enterprises, empower citizens and help the EU to become a dominant world leader in the blockchain.
Eva Kaili, a member of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament, mentioned,
“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. Blockchain is a cutting-edge technology and we aspire to make EU the global leader in the era of the Fourth Industrial Revolution”.