Eurasian Economic Union discusses the use of blockchain and cryptocurrency in the region
Cryptomoney and blockchain technology are changing paradigms at the international level. As more and more people and businesses join this digital revolution, governments in different countries have found it necessary to add these issues to their agenda.
For example, the European Union, one of the world's leading organisations for cooperation between nations, has discussed the advantages of using blockchain technology on several occasions. However, it is still somewhat conservative with digital coins.
On this occasion, another grouping of countries also entered into discussions on the benefits and difficulties of using bloc chains and digital assets within the countries that make up the grouping.
The Eurasian Economic Union (EEAU) has begun to assess how blockchain and cryptocurrency can improve the economies of its five member countries.
Tota Kaliaskarova, Director of the EU's Macroeconomic Policy Department, said: "Financial technologies are developing very rapidly, and our task is to keep up with and respond to these processes in good time.
"From a macroeconomic standpoint, the emergence and use of cryptocurreny will affect monetary conditions in our countries and macroeconomic stability in the UAE," he added.
For this reason, it considers it necessary to clarify the organisation's position on these new technologies. It is important to note that the UAE was born as an initiative to increase competitiveness among national economies, promote development and improve the quality of life in member countries, promoting cooperation among them.
At the last meeting of the bloc, Kaliaskarova also highlighted some benefits that the adoption of these new technologies would bring to the Eurasian nations: "Member States are considering the use of cryptocurrency and the introduction of blockchain technology as a new factor in the development of the economy and an opportunity to deepen integration within the Union".
The organization focused on the discussion of issues such as: the regulation of cryptocurrency and blockchain, the creation of Eurasian financial and payment platforms, a legal framework for the use of digital currencies in the UAE countries and the impact of the digitalization of the economy.
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