Romania To Boost Local Blockchain Interactions

Romania To Boost Local Blockchain Interactions

It has been reported that Romania has established its first cryptocurrency organisation. The non-governmental organisation, which has been named The United Blockchain Association of Romania, was founded at the beginning of this month, with the main aim being to raise awareness of cryptocurrency by educating the public. Awareness and proper education of the sector is lacking across the world, so if this is effective, it could be a really positive movement for the cryptocurrency market. The three founding members; Andrei Stanica, Andrei Pipas and Ruxandra Iane, spoke about the organisation, saying;

“All of the United Blockchain Association objectives are in fact topics that we intend to address in the near future with the decision makers in Romania, but also with the enthusiasts of the blockchain and crypto domain in our country. Our organisation aims to provide an umbrella to support the common interests of those who are actively involved in this field in a formal manner. We want to unify the ad-hoc groups and create a strong coalition that will be the interface in direct communication with the Government, the Parliament, the NBR and the ASF…We are already in contact with some of the organisations in the European countries and we want to make partnerships.”

As a country, Romania have famously backed Bitcoin and other cryptocurrencies, setting up the first Bitcoin ATM back in May 2014, and BTCXchange, the first exchange set up in Romania, attracted more than 2,000 customers in the first seven months alone. Bitcoin Romania, which is the biggest exchange in Romania, recently celebrated its 4th birthday, and another exchange, CoinFlux has recently announced that they traded $23.8 million since December 2015. At the end of last year, Ilan Laufer showed their support by saying;

“I strongly believe in the idea of cryptocurrencies and that the future and the way we complete transactions – the way in which banks behave – will be affected by the development of this new industry. It’s a challenge for the banking system because this area isn’t very well regulated and I believe that this should happen. It’s an area in which lots of money circulates, but it is also a new technology. We have to understand and look at what benefits it brings with it and how it can be implemented in the real economy.”

This is exactly what the organisation aims to do. Only time will tell if it is a positive move for cryptocurrencies or not. Featured image Source: Wikipedia Commons  

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