Mediterranean Seven Signs Manifesto to Collaborate for DLT Legislation and Promotion | News ICORating
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Mediterranean Seven Signs Manifesto to Collaborate for DLT Legislation and Promotion

Mediterranean Seven Signs Manifesto to Collaborate for DLT Legislation and Promotion

On 4 December, seven EU nations: Cyprus, Malta, France, Spain, Portugal, Greece, and Italy signed a document entitled Southern European Countries Ministerial Declaration on Distributed Ledger Technologies

The Digital Economy and Society Index has found that Southern European countries possess the possibility for growth in the tech sector. The cooperation between these countries can pave the way for the advancement of their own digital ecosystem. The manifesto, inked in Brussels, solidified their agreement to cooperate.

‘#Malta leads 6 #EU countries (#France #Greece #Italy #Portugal #Spain and #Cyprus) in signing joint declaration on further cooperation on #DLT #Technology. Malta also to host Southern #Mediterranean Summit on #DigitalEconomy next year’
@MaltaGov on Twitter

The nations will venture together to create policies that will make Southern Europe a front runner on technologies such as DLT, AI, IoT, and 5G. As a whole, the leaders believe, these hold the potential to transform their economies.

Legislation

‘We believe that Distributed Ledger Technologies can result in further democratization of the European economic model.’
Southern European Countries Ministerial Declaration on Distributed Ledger Technologies

The seven agree that policies in relation to DLT should be founded on Europe’s principles and technological neutrality. Regulations should consider the technology’s decentralized nature without obstructing innovation and experimentation.

Promoting Education

‘We believe that it is a responsibility of the governments to ensure that their citizens fully understand the potential of emerging technologies…’
Southern European Countries Ministerial Declaration on Distributed Ledger Technologies

To help citizens know and understand the new technologies, educational programs will be encouraged by the group to facilitate the propagation of knowledge in the field. A better technological know-how will result in the development of use cases.

Promoting Privacy

‘Due to its nature, we are of the view that Distributed Ledger Technologies can result in enhanced transparency, accountability and privacy for the end-users.’
Southern European Countries Ministerial Declaration on Distributed Ledger Technologies

The Mediterranean Seven embraces using blockchain tools to promote user privacy. This would give the users jurisdiction over their own data.

The leaders also jointly affirmed that DLT, by means of smart contracts, will shift how government services are proffered. Education, healthcare, land and company registry, transport and education are among the areas which the technology can impact.

The group is committed to regularly review the developments tackled by the manifesto.

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