A crypto payment network with four million listed users has joined the likes of Cardano, and Binance as a part of Blockchain for Europe.
A crypto payments network has been revealed as the 10th member of Blockchain technology for Europe.
Blockchain for Europe voted unanimously in favor of Electroneum’s membership, as their goal for financial composition has brought the attention of crypto and blockchain specialists globally.
The crypto plan will now rub shoulders with fellow members that include Ripple, Binance, and Cardano as the group “focuses on blockchain advertising and education to help the EU continue at the global forefront of discovery.”
Blockchain for Europe is intended to help leading businesses in this division influence policymaking in the trading bloc.
Welcoming Electroneum, the organization’s president, Maria Minaricova, stated:
“We have high expectations for Electroneum as a part, given its record as a well-established company led by an extremely expert team with a goal of financial composition that has captured the attention of various crypto and blockchain specialists around the world.”
Electroneum CEO Richard Ells replied that the company was looking ahead to supporting lawmakers to understand the “important technological advances” blockchain enables.
“It’s a great honor to join such a significant group of blockchain firms in their mission to guarantee that new rules and regulations do not stifle innovation in the space,” he replied.
The milestone arrives as Europe steps up its attempts to regulate crypto and blockchain in a way that is intended to provide “clarity” to corporations operating in the sector.
MORE INSIGHTS FROM ELECTRONEUM HERE
As announced by Cointelegraph in Sept, the European Commission has officially raised a new digital finance package - regarding the first time the trading bloc has introduced new legislation on crypto assets.
The proposals aim to offer more stringent requirements for blockchain and crypto issuers in terms of capital, investor rights, and administration.
The European Central Bank has also suggested that the continent must be ready to launch a digital euro in the not-too-distant future. Still, Christine Lagarde has stressed that the ECB’s president has emphasized that a CBDC must be regarded as a complement to cash rather than a substitute.
Delivering financial inclusion
Electroneum, which sees it has 4 million enrolled users globally, enables anyone to instantly send, receive, and transfer funds. Unlike mainstream payment platforms and cryptos such as Ethereum, the organization adds that these transactions cost a portion of one U.S. cent.
As recorded by Cointelegraph, Electroneum has now stayed in the industry for three years.
One of its flagship products is a mobile-based digital asset that enables people to top up their telephones in more than 140 countries. There are also grand plans to develop an initiative that provides consumers in four African countries the opportunity to top up their electricity meters directly from the ETN app.
The company states its infrastructure can profit those who don’t have a bank account. The World Bank says that over 1.7 billion people worldwide are unbanked. In Cambodia and South Africa, Electroneum has gone further by designing a $40 smartphone to be more affordable for lower salaries.
Before growing a Blockchain for Europe division, the corporation also uncovered AnyTask, a crypto-enabled freelancing platform that enables talented workers to finish business tasks and other individuals. Crucially, this platform doesn’t take a commission earning, and earned funds are available instantly, and users don’t need a bank account to get associated. In time, it’s supposed AnyTask will arise to become a sizable opponent to the likes of Upwork and Fiverr, which usually offer far less beneficial terms to freelancers.
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