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A Greek MEP (MEP), Eva Kaili, said central banks have too much control over citizens' deposits, according to an article published on Ripple's blog on 8 February.
According to the article, Kaili made these comments at the Ripple Regionals event in London last week. The MEP said she understood that the central banks had too much control over the funds of citizens after the debt crisis in Greece.
During his speech – on how the EU will regulate blockchain and cryptocurrency – Kaili also said he believed blockchain technology would permeate all areas of life:
"[b]By its nature, blockchain technology does not recognize borders, […] It's unstoppable. "
She also warned the public that[y]You will be disturbed if you do not try to understand it. Instead, you must see the potential. "
Speaking of the benefits that blockchain-based systems could bring to cross-border payments – such as faster processing and lower fees than existing systems, Kaili said:
"If there are benefits for European citizens, no bank can prevent us from using [blockchain]. "
Kaili would have been a key figure in advocating blockchain development financing in Europe and clear regulations.
As mentioned previously by Cointelegraph, in May 2018, the European Parliament's Committee on Industry, Research and Energy adopted a resolution drafted by Kaili which highlighted the benefits of adopting block accounting and distributed block accounting technology.
In December 2017, during a political dialogue with the European Parliament, Kaili claimed that cryptocurrencies would strengthen decentralization and make intermediaries less relevant.
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