Newly Appointed EU MP Eva Kaili Expresses Intention To Help Foster Blockchain Adoption In Europe

Newly Appointed EU MP Eva Kaili Expresses Intention To Help Foster Blockchain Adoption In Europe

Eva Kaili, a Greek politician who was recently appointed a European Union Member of Parliament, recently expressed her intention to help foster smooth adoption of blockchain technology across Europe.

Eva Kaili’s interest in blockchain technology didn’t just recently. Soon after she was elected as in the position of Member of European Parliament for Greece in 2014, she attended a blockchain conference, something that saw many criticize her.

In a recent Ripple Regionals event held in London’s Andaz hotel, Kaili said that:

“When they heard I was a politician, they didn’t want me there. I believed that if we were not positive….The resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”

Contrast Between Then And Now

Although Kaili’s appearance in a blockchain summit in 2014 soon after she was elected as Member of European Parliament for Greece was received with much criticism, things appear to be different this time. Her Ripple’s regional talk about how the European Union will regulate digital assets and blockchains was received well by leaders from fintech businesses, financial institutions, and banks.

Kaili, however, agrees that there’s still a lot that needs to be done on the side of regulators but appeared to be passionate about helping remove the barriers that hinder the adoption of the blockchain.

The Greek Member of Parliament has for several years spearheaded a new approach to digital assets and blockchain technology across all Europe. In 2018, she even proposed to have a European Parliament Resolution that would hopefully call on European Central Bank (ECB) and European Commission to assess the sources of volatility in the cryptocurrency sector, identify the dangers they pose and consider incorporating digital currencies in the payment system.

During the Ripple Regionals, she said that:

“We do not want to stop innovation… The resolution is a roadmap to support this very exciting technology. We’ve shown that we are open-minded.”

Presence Of Financial Institution Readers Provides Some Hope

Many of the leading financial institutions in the world have always taken a defensive stance when it comes to cryptocurrencies, but their presence at the Ripple Regionals showed that they have started seeing the real value of digital assets and the blockchain technology as a whole. They have realized the true potential of blockchain to provide their customers with instant, inexpensive, and transparent cross-border payments.

Kaili said that she started thinking about a solution (blockchain) after the debt crisis that her country, Greece, faced. In her own words, she said:

“After the debt crisis in Greece, I realized that the central banks had too much control over our deposits, and I thought that we should find a solution.”

Explaining her situation further, she stated:

“Recently, I had to send €2,000 to my mother in Greece from my account in Brussels. She needed the money that day, and I couldn’t use the bank because it would take three working days. If I could send it to her using RippleNet, she would immediately receive the payment.”

Good News For Europe’s Blockchain Advocates?

Kaili’s initiative to foster blockchain adoption in the European Union is certainly some great news for the blockchain advocates in the region.

The Greek EU Member of Parliament believes that blockchain and digital assets will have a huge impact on almost all sectors. She praised the technology saying that it doesn’t recognize any borders, and therefore ‘unstoppable.’

According to Kaili, she hopes that the new regulations will eradicate any barriers to adoption of blockchain and innovation, calling on all institutions as well as entrepreneurs attending the Ripple Regionals to help develop new ideas.

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