Romania Launches First Crypto And Blockchain Association
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Romania Launches First Crypto And Blockchain Association
March 29, 2018
Romania has established its first crypto and blockchain-oriented non-governmental organization (NGO) with an aim to represent the emerging industry in the country.
The United Blockchain Association of Romania (UBA-RO), as the entity is called began its activities on March 22 and its representatives have a mission to bring the blockchain ecosystem to the Romanian public, educate them and provide the necessary tools to guarantee safe and friendly investment conditions, which also involve legislative aspects.
In a country whose government is yet to show any support for blockchain development its adoption of technologies based on the network has been overwhelmingly stagnant, although the European Commission has allocated millions of euro for blockchain projects.
Andrei Stănică, co-founder and president of UBA-RO, noted that its organizational objective is to create a platform for dialogue and debate to put the issue of blockchain and cryptocurrency on the public agenda.
“Our organization aims to provide an umbrella to support the common interests of those who are actively involved in this field in a formal manner,” Andrei stated adding that “The ultimate goal of our initiative is to create a functional blockchain ecosystem that provides a secure, regulated and predictable environment for the interested actors to contribute to the development of this field in our country.”
Professional services firm Ernst and Young estimates there have been 26 Romanian initial coin offerings (ICOs) initiated in countries that already regulate the market such as Austria, Gibraltar, Estonia, and Malta. Thus, UBA-RO is a logical move to create a sustainable and predictable legislative framework and also to provide the necessary to counter as much as possible potential scams related to the blockchain network.
It was reported that the European Commission had allocated millions of euros to blockchain projects. The development of such initiatives and interest in the area of blockchain extends globally in an estimated market of around $400 billion in February 2018.
Source: https://bitzamp.com/romania-launches-first-crypto-and-blockchain-association/
Photo: bitzamp
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