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Luxembourg and VeChain – More Government Use of Blockchain Suggested

Luxembourg and VeChain

Blockchain technology has shown that it can be beneficial to a multitude of industries, and even governments have been looking into ways to utilize and encourage it.

Luxembourg, a small European country located between Germany, France, and Belgium, has become a part of this new blockchain-positive movement, as a delegation from the Luxembourg Ministry of Economy visited the Shanghai office of VeChain Foundation on Wednesday.

The delegation was shown several of VeChain’s solutions and applications for its enterprise users.

Consul General of the Grand Duchy of Luxembourg Consulate General in Shanghai Luc Decker, Director at the Ministry of Economy of The Grand Duchy of Luxembourg Daniel Liebermann, Consul of the Grand Duchy of Luxembourg Consulate General in Shanghai David Storne, and Deputy Director of Business Section of the Grand Duchy of Luxembourg Consulate General in Shanghai Pan Ying were part of the delegation.

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VeChain CMO, Noah Huo, showed the delegation a variety of things, such as “the cold-chain logistics solution VeChain developed for a global convenience store franchise…the in-house automated NFC/RFID chip manufacturing machine” and the impending VeChainThor MainNet launch.

According to the press release of the delegation’s visit, Luxembourg is said to have “become a forerunner both globally and in Europe” in blockchain technology after discovering the benefits of it.

Luc Decker, Consul General of the Grand Duchy of Luxembourg Consulate General in Shanghai, has this to say in regards to the country’s utilization of blockchain:

“Luxembourg has a lot to gain in this new distributed technology which fully integrates into the Government’s vision to embrace the Third Industrial Revolution. Different applications of this technology are of great importance for the future development of some key industries of my country, like the financial sector or the logistics industry and companies like VeChain would perfectly match into our innovative start-up ecosystem.”

The Luxembourg Banker’s Association (ABBL) has also previously suggested that introducing a blockchain governance framework could “improve customer experience, streamline back-office operations, cut costs and increase profits” in Luxembourg, or even Europe.

Do you think more countries could accept utilizing blockchain technology in their governments?

Featured Image: Twitter

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