Spain intends to use the blockchain to manage government


Spain has a great interest in modular technology. Some companies in the country, including major banks, already have begun to work with technology, and even the government is talking about to introduce tax incentives for the blockchain and cryptocurrency exchanges.

Now the Spanish legislators propose to use blockchain technology for the public sector and management of the country.

According to the Spanish news agencies, 133 MPs from the ruling people’s party support the bill, which proposes to use the blockchain for public areas. The bill was introduced on 22 June and published on the website of the legislature in four days.

The purpose of the use of new technology is increasing transparency, both for the public and for political parties. The bill is still under consideration at other deputies and the Congress of Spain has not started to consider it.

Initiatives of other members of Congress

This initiative is in line with others previously made by representatives of other parties. The members of the Spanish working socialist party (PSOE) also pointed to the necessity of studying the development trends of the stock market and blockchain technologies.

Civic party (CP) introduced his own bill. However, none of the bills has not yet been fully considered by the government of Spain and the results of it are expected only by the end of the year.

The national Commission for the securities market of Spain (CNMV) insists on strengthening regulation of the cryptocurrency industry. They suggested several changes in the legal framework of the country, not only at the national and regional levels, as well as internationally. According to the CNMV, the Agency indicated that it is important to create rules that will cover all of Europe so that investors have a clear idea of how to work with digital currencies, and governments would determine how they should act in regard to digital assets.

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