EU Parliament Calls for Action on Blockchain Adoption in Trade

The European Parliament (EP) has called for measures to boost blockchain adoption in trade and business across the region.

The legislative body adopted a resolution on Thursday, dubbed “Blockchain: a forward-looking trade policy,” setting out how the nascent technology could improve EU trade policies, including free trade and mutual recognition agreements.

Blockchain could improve supply chain transparency, streamline trade processes, reduce costs and corruption, detect tax evasion and improve the security of data, the EP said. Cybersecurity, it added, remains a key challenge, however.

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