You are viewing a single comment's thread from:
RE: European Financial Transparency Gateway
I'm really impressed with this.
It's a great opportunity for Utopian and Steem.
Do I understand well that one of the aims of the project would be to put whole documents (in XBRL format) into the blockchain?
What comes next?
A formal design proposal?
Yes, in few phrases:
The key differences here with a classic architecture:
In other words: building Europe is at heart about overcoming mistrust between representatives (at different levels, here the OAMs and NCAs) of different Member States. About overcoming the fear that some are paying more in the "common pot" than the others, and others are "taking more from the common pot" than the rest.
What comes next - yes, a formal design proposal internally. It needs to be validated before it can be made public.
We are barely starting and there are a lot of procedural hurdles to be overcome, this is completely uncharted territory for us.
this is great hope in Europe..
OK, I'm no expert at Steem development but I'd definitely be interested to keep an eye on this project as it goes on.
I don't think the reluctance of some to engage with the EU is warranted to be honest.
Yes there is a lot of bureaucracy and politics involved but in the end this is an opportunity for the EU to recognize the value of the blockchain.
Going for an opensource solution would also ensure transparency.
The licensing on any technology developed for this is also interesting.
An organization like the EU would definitely want a contractual relationship to provide maintenance and support of this blockchain.
Anyway, I'm sure there are many non-technological points to clarify, including legal.
It will be interesting to see how this shapes up!