{"id":1393,"date":"2018-06-04T14:33:03","date_gmt":"2018-06-04T12:33:03","guid":{"rendered":"http:\/\/weekly.uhm.org.mt\/?post_type=article&p=1393"},"modified":"2018-06-04T14:33:03","modified_gmt":"2018-06-04T12:33:03","slug":"l-uzu-tal-mudell-tal-blockchain-kontra-l-ispejjez-ta-ditti-zghar-u-t-tishih-tac-cittadini","status":"publish","type":"article","link":"http:\/\/weekly.uhm.org.mt\/en\/article\/l-uzu-tal-mudell-tal-blockchain-kontra-l-ispejjez-ta-ditti-zghar-u-t-tishih-tac-cittadini\/","title":{"rendered":"Use \u201cblockchain\u201d model to cut small firms\u2019 costs and empower citizens, urge MEPs"},"content":{"rendered":"

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Applying the \u201cblockchain\u201d model to areas like energy use, supply chains and governance would cut costs for firms and empower citizens, said the Industry Committee.\u00a0<\/span><\/p>\n

Blockchain transactions are recorded by multiple users, rather than by paid – and often costly – intermediaries. The model is currently best known for underpinning the functioning of digital currencies, such as Bitcoin.\u00a0<\/span><\/p>\n

The committee approved recommendations on how to apply the blockchain model elsewhere,\u00a0so as to\u00a0cut intermediation costs for small firms, empower citizens and enable the EU to become a global leader in this field.\u00a0<\/span><\/p>\n

It is not all about Bitcoin<\/b>\u00a0<\/span><\/p>\n

Citizens could use blockchains to gain full control of their own data and decide what to share, and small firms and innovative start-ups could use them to cut intermediation costs and ensure that transactions are executed efficiently, the approved text says.\u00a0<\/span><\/p>\n

MEPs advocate applying the blockchain model to areas such as energy consumption, health care, supply chains, transport, finance and the creative industries.\u00a0<\/span><\/p>\n

For example, the model could help to:\u00a0<\/span><\/p>\n

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