Cryptocurrencies

Presentation of the report “The Blockchain, an opportunity for Europe” – Cryptocurrencies

Built with the tétestimonials from around ten experts from the finance and health sectorsé, industry, summerenergy and technologies, this report analyzes that the blockchainéwidely used cryptocurrencies with which it is often associatedée and sometimes répick. He déshows that this technology promotes sovereigntyé éeconomical, the compétitivityindustrial and administrative efficiency in Europe. The blockchain announces a reeconomic development including French playersvsais and europThey urgently need to take hold.


The digital euro, Europe’s essential financial tool.

This report comes back to the need to quickly acquire a “digital euro” issued by the ECB to adapt the euro zone to the digital economy of tomorrow. This “digital euro” will make it possible to respond to 3 major challenges:

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

  • A geopolitical challenge. Projects from private companies, like Libra, and from States, like the crypto-yuan, underline the urgency for the European Union to equip itself with an equivalent tool to preserve the monetary sovereignty of the euro area and strengthen the international attractiveness of our common currency.
  • An economic and financial challenge. A “digital euro” will modernize Europe’s financial infrastructure dating back to the 1970s, lower the cost of financial transactions and promote economic innovation.
  • A legal challenge. At European level, a “digital euro” will be a tool in the fight against money laundering, tax evasion and terrorism. Contrary to popular belief, the public and pseudonymous nature of the blockchain makes it possible to trace the transactions recorded therein.

Blockchain, a new technology to meet the sectoral challenges of Europe.

The global Covid-19 pandemic involves new economic, financial and health challenges to which blockchain provides an innovative, transparent and efficient response. This report highlights 4 key sectors:

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

  • Industry, where this technology revolutionizes the management of industrial supply chains, simplifies the operation of international trade and improves the transparency of food consumption.
  • Health, in a logic of secure management of medical data or improvement of clinical studies and transparency of research.
  • The energy transition, where blockchain can be the foundation of a European “energy internet” via peer-to-peer renewable energy production, exchange and resale networks.
  • The public sphere, with the aim of reinventing the role of the state by automating its cogs and by simplifying the citizen’s relationship with it.

Possible recommendations

Bpifrance, Havas Blockchain and the Concorde Foundation unveil the following 5 recommendations:

  1. On a European scale, include blockchain technology in the portfolio of a European Commissioner alongside other technologies in order to make it an industrial priority and allow the EU to speak with one voice on this topic.
  2. Across Europe, shorten the reflection phase around the “digital euro” so as not to fall further behind on foreign crypto-currency projects like Libra and the crypto-yuan.
  3. Across Europe, strengthen funding for dedicated funds to close the existing funding gap with the United States and China.
  4. Across France, blockchain must be included as a strategic priority in the economic recovery plan, like Artificial Intelligence. Blockchain is a technological lever in favor of our economic sovereignty, our industrial competitiveness and the energy transition.
  5. At the level of France and Europe, establish a legal framework and a more stable and attractive tax regime to make blockchain start-ups flourish and catalyze the interest of investors, in a context where the interests of companies for this sector is growing. Blockchain heralds an economic, social and political revolution as powerful as that of the internet. This report calls on all French and European players to urgently seize this opportunity and take part in this technological revolution which is constantly growing in the world.

Obviously, we have presented to you here only a tiny part of the report which was co-presented by the Concorde Foundation, Bpifrance and Havas Blockchain. If you wish, the full report is available online. In the meantime, if there is one thing that seems obvious, it is that it is time for Europe to take up this issue … Hopefully it goes in the right direction. But that, only time will tell.

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