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The Global Blockchain Business Council is to extend its work in Europe, as the group prepares to address delegates from the European Parliament this week.

The group, which was set up to advise governments, regulators and business leaders on blockchain technology, will present to delegates in Brussels later today, in conjunction with Greek MEP Eva Kaili.

It is hoped that by increasing the scope of its work in Europe, the Global Blockchain Business Council will help establish a greater understanding of both the challenges of working with the technology, and the opportunities it presents for efficiency and process gains across wider industry and governmental sectors on the continent.

Kaili, the member of the European Parliament sponsoring the event, said this was an important part of ensuring the potential of blockchain is maximized as far as possible.

“Forums like this pave the way for comprehensive collaboration between the private sector and regulators that will enable innovative platforms and smart solutions to be developed – maximizing the potential that blockchain technologies can offer.”

The forum also represents the latest steps from the European Union to investigate blockchain technology, and how it could be used to deliver more efficient systems across both commerce and government in future.

The Global Blockchain Business Council’s chief executive officer, Jamie Smith, noted the importance of EU approval and adoption of the technology, as part of a wider gain in acceptance for the technology.

“The EU is the world’s largest economic bloc and among the most important regulatory and rule-setting bodies in the world, and its position on blockchain technology will have deep implications across all 28 EU member states.”

As a sign of the group’s intent, the news comes alongside confirmation of their incorporation in Geneva, Switzerland, providing a strong regional base for targeting increasing efforts within the European Union.

With delegates from the parliament and the European Commission expected to attend the forum event, blockchain analysts will be hoping for a productive session that paves the way for further similar initiatives.

With growing support for the technology across the EU, alongside other major emerging markets worldwide, the Global Blockchain Business Council hopes to ultimately help blockchain technology gain widespread acceptance among regulators and policymakers.