French President Macron Calls for European Cooperation for Embracing Crypto and Blockchain

Even though Europe has a high degree of development in most spheres, the crypto sector seems to be one of the only areas it is lagging behind in. However, Emmanuel Macron, the President of the French Republic is extremely enthusiastic about propelling the whole continent forward so far as its interactions with blockchain technology and cryptocurrencies are concerned.

We have earlier analysed how the European Union and non-EU members of the continent have made a few concerted efforts to expand their association with crypto and blockchain, but the continent clearly has a long way to go still. Macron’s recent statement harps on the need to speed track this expansion, with special emphasis on using blockchain technology in agriculture and in the supply chain as well.

The French President opined that blockchain technology can potentially transform the world of agriculture by introducing modern tools of tracking movements along the entire supply chain: be it in the production of raw materials or in perfecting the correct packaging of the final product.

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He emphasized on how the use of blockchain can help the case of both the producer and the consumer at the same time. The producer will enjoy the benefits of more efficient inventory management and the customer will gain an insight into the quality and provenance of what he or she is spending money on.

Macron then went on to stress on the need for all European countries to combine and rise to the challenge being posed by competitors like the US, China and Russia, who have already had a bit of a headstart in this regard. His focus seems to have entirely been on the need for a comprehensive European coalition to deal with this issue, as he called for complete unity on this front.

In his most remarkable and biggest speech since the yellow vest protests that rocked his chair, President Macron also noted that the French government was planning to expend some amount of money in the development of blockchain technology and artificial intelligence within the country.