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Europe is Falling in Love with Blockchain as Major Initiatives Take Root in Spreading Crypto Use



Blockchain technology has started attracting a lot of attention in the EU, especially in the last few years. So much so, in fact, that the EU classified it as promising and challenging some time ago. But, after observing this technology’s potential, it appears that the European Union might be ready to make a move that will lead to blockchain’s adoption.

The current situation is a result of a decision made in February 2018, when the European Commission (EC) decided to launch a Blockchain Observatory and Forum in order to support international engagement with the new technology and its stakeholders. Since then, the organization made three reports — in July, October, and December.

However, following the launch of the organization, the next step came in April. On this occasion, 21 countries that were EU members, accompanied by Norway, decided to sign a Declaration that resulted in creating the European Blockchain Partnership (EBP). Since then, five more countries decided to join in 2018 — Greece, Romania, Denmark, Cyprus, and Italy. The main focus of this partnership is interoperability, energy efficiency, cybersecurity, and privacy.

European Blockchain Partnership

A few months ago, a report called “EUS Blockchain Technology Market (2018-2023)” coming from stated that EU will likely increase investment into the blockchain from $94 million to $386 million by 2020. The report expressed a positive view of the situation of blockchain technology in Europe based on several aspects. Those include the fact that EC is in the process of liberalization of industry regulations, as well as the fact that a new task force with blockchain expertise is being created.

Following this, another move that will bring Europe closer to blockchain was made in October. This was when the European Parliament created a new resolution called “Distributed ledger technologies and blockchains: building trust with disintermediation”. The document predicts that DLT might affect most, if not all, sectors of the economy. However, finance, health care, education, public governance, transport, copyrights, data protection, and similar sectors received the most attention.

However, the biggest conclusion that can be made due to the agreement is that Parliament has plans to realize the proposed policies. Despite the risks of the new technologies, it appears that the EU believes that the potential benefits are worth it.

Blockchain In Health Care And Finance

As mentioned, the health care sector is among those that have received the most attention when it comes to the potential of DLT implementation. A project called MHMD (My Health My Data) aims to use the blockchain for storing medical data in a safe and effective environment. By employing the blockchain, both public and private institutions would be able to access patients’ digital data, under the patients’ own control.

The focus is on the protection of personal data which will also allow people more control over how their data is stored, managed, and used. Blockchain can and should protect the privacy of sensitive data related to health, and allow citizens the ability to choose which data to share.

As for the implementation of DLT in financial services, there are several major advantages. The first one, of course, is the significance of the blockchain in improving transparency, reducing transaction costs, eliminating hidden fees, and better managing data and streamlining processes.

It is believed that trends of DLT implementation should be monitored, but also encouraged. Of course, one big concern is the volatility and uncertainty of crypto. In fact, the ECB and EC will have to provide a report on volatility sources in crypto, but also identify what may pose a danger to the public. If cryptocurrencies can, in fact, be incorporated in the European payment system, then the possibilities must be explored as well.

ICOs were also seen as an important risk, mostly due to the lack of clarity when it comes to legal frameworks that are applied to ICOs. The EC and national regulators will, therefore, be asked to identify criteria that can improve investors’ protection and regulate ICOs in a better, more precise way. There is potential in this area, although it requires careful handling.

Is There A Future For Blockchain In Europe?

While Europe does recognize the potential of blockchain technology, it is believed that there is still a serious lack of education regarding this technology. Only a week ago, big blockchain firms including the NEM Foundation, Ripple, Fetch.AI, and Emurgo decided to create a new association called “Blockchain for Europe”. The Association is to help the EU shape the global agenda on this technology through education and by stressing its potential.

Slowly but surely, European countries are turning to DLT, with some countries only just entering the space, while others have been involved for a while now. The ultimate goal of the EU is to become a global leader in this field, which is clear from numerous initiatives that have taken place in 2018.



BTC Could “Easily” Surpass Gold in 20 Years. Mike Novogratz Says



Many people believe that cryptocurrencies represent a revolution of similar or superior importance to other significant events such as the appearance of the Internet. The introduction of Bitcoin (BTC) and its characteristics have enthused thousands of investors and influencers with increasing effusivity.

While some believe that cryptocurrencies will disappear due to their lack of intrinsic value, others like Mike Novogratz think that blockchain technologies, and especially Bitcoin, can surpass gold as the primary means of storing value in the world.


In an interview with Anthony Pompliano, Mr. Novogratz explained that in a span of about 20 years, Bitcoin could “easily” increase its marketcap by 100x, if technological and legal developments continue to facilitate its adoption. This would imply that we would be talking about figures close to 8 Trillion dollars in total marketcap for Bitcoin alone in the next two decades:

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet

Novogratz has always defended the idea that Bitcoin will start a new Bull run when governments develop more specific regulations that appeal to institutional investors. In this regard, he explains that it is only a matter of time before large capital investors enter the space:

“I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.

Listen, the regulatory framework isn’t there yet on security tokens. We’re working really hard on our security token business and we’ve got, I think, some cool things in the hopper.”


Finally, in the climax of the interview, Novogratz’s enthusiasm was such that he even said that people should bow down and thank Satoshi Nakamoto for creating Bitcoin (BTC).

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Bitcoin Price Consolidation Continues, Downside Break Looks Likely




  • Bitcoin’s current trading range of $3,920–$4,055 could be breached to the downside, as last week’s doji candle created at the key 21- week moving average resistance is signaling bullish exhaustion.
  • A downside break of the trading range, if confirmed, could yield a sell-off toward the support levels lined up at $3,775 and $3,658.
  • On the higher side, a UTC close above $4,055 is needed to put the bulls back into the driver’s seat, although that looks unlikely at press time.

Chart signals of bullish exhaustion suggest bitcoin’s (BTC) narrowing trading range could soon be breached to the downside.

The leading cryptocurrency by market value is sidelined below $4,000 for the fourth straight day, and has been restricted to the narrow range of $3,920–$4,055 since March 17, according to Bitstamp data.

More importantly, prices clocked a high and low of $4,055 and $3,920, respectively, last week before closing Sunday (UTC) largely unchanged at $3,970. The price swing formed what’s termed a doji candle on the weekly chart, which is usually taken to represent indecision in the marketplace.

The candle, however, has appeared following a 20 percent rally from lows near $3,300 seen at the end of January. So, it could be argued that the indecision, as represented by the doji, is predominantly among the buyers.

As a result, the probability of BTC ending the ongoing consolidation with a convincing break below $3,920 appears high.

As of writing, BTC is trading at $3,970 on Bitstamp, largely changed on a 24-hour basis.

On the daily chart, the short-term MA studies are now biased toward the bears, with the 5-day MA having dropped below the 10-day MA. Further, with the price well below the March 21 high of $4,055, the bearish outside-reversal candle created on that day is still valid.

So, the sideways channel seen in the 4-hour chart could be breached to the downside in the next day or two.

A range breakdown if confirmed would open the doors for a deeper drop toward $3,658 (Feb. 27 low).

A UTC close well above $4,055 would revive the short-term bullish view and could yield a rally toward $4,200, although gains may be short-lived, as the 21-week MA is still trending south.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.


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What will it be for Bitcoin? $5,500 or $3,000?



Although the world’s most popular cryptocurrency is still trading in its long-established range between $4,000 and $4,100, some analysts believe the moment of truth for Bitcoin is near. What will it be for Bitcoin? $5,500 or $3,000?

Bitcoin has been trading between the $4,000 and $4,100 range for the last 10 days, and today Bitcoin’s trading behaviour was no different. Bitcoin is currently trading at a price of $4,020 while showing a minor loss of -0.24%, according to

Most analysts are looking at the upper bound of BTC’s current trading range, the $4,200 price mark, which will most likely act as a level of serious resistance again.

However, a Switzerland-based cryptocurrency analyst, who goes by the Twitter handle, Crypto Krillin, recently took to Twitter to state that the moment of truth for Bitcoin is very near. According to the crypto trader, or BTC will fly straight towards the $5,500 price mark, or we will re-visit $3,000.

Read more: Bitcoin or Gold? Or both?

The Swiss cryptocurrency trader is not the only crypto analyst who seems to be convinced that Bitcoin’s upside target currently exists around the $5,500 price mark.

Just a few days ago, Chepicap reported that Galaxy, another popular cryptocurrency analyst on Twitter, explained to his nearly 50k followers that Bitcoin is pointing to a promising potential for the number one cryptocurrency, hinting to an imminent surge of 35% to $5500.

Despite many analysts reporting optimistic views on Bitcoin’s near-future upward breakout, another widely recognized cryptocurrency trader known to the Twitter community as ‘The Crypto Dog’, recently came forward stating that it is still possible for Bitcoin to drop to $3,500 in the short term, adding that the market conditions haven’t changed over the last several days.

Read more: Bitcoin can surge as high as $400,000

According to crypto technical analyst known as DonAlt, we can only conclude crypto winter is over until Bitcoin crosses the $4,600 threshold and moves towards $5,000 and $6,000.

‘Volume isn’t what will convince me that the bear market is over’, he said. ‘A bullish market structure along with a break of at least $4.6k is. It’s interesting that we’ve had so many altcoin pumps while the general market cap hasn’t really changed. That makes me think there is very little new money coming in.’


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