European Lawmaker Eva Kaili Talks Blockchain, ICOs and Regulations

Eva Kaili is a Greek member of the European Parliament, representing the Panhellenic Socialist Movement (PASOK), and a former television news presenter. As Chair of the Parliament's Science and Technology Options Assessment (STOA) panel she is in charge of investigating the potential for new technologies such as artificial intelligence, fintech and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The MEP sat down to talk today with Finance Magnates about her views on the future of the technology in Europe. The interview was broadcast live and a video recording is available here:

We discussed the current pitfalls of current cryptocurrency solutions, voting via blockchain, the role of banks in the economy of the future, the possibility of regulating away the irreversibility of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term transfers, a timetable for creating regulations for ICOs (initial coin offerings), and more.

Background

In May Kaili organised an event to promote awareness of digital ledger technology at the parliament building in Brussels titled: ‘Spotlight on blockchain: A new generation of digital services’.

The tone set by the organizer was very positive on the potential for both cryptocurrency and blockchain technology to disrupt the prevailing economic system. As Kaili said at that time: “If a bank does not think blockchain is in competition with fiat currency then they likely do not understand it.”

They discussed how blockchain technology can revolutionize finance, intellectual property rights, democracy, energy, supply chains, smart contacts and more.

Earlier this year the European Commission announced that it intends to launch a call for tender for a service contract to set up an ‘EU Blockchain Observatory’, with an estimated budget of €500,000 over a period of two years.