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French President Emmanuel Macron discusses the uses of blockchain in agriculture and food industry

Akash Anand



French President Emmanuel Macron discusses the uses of blockchain technology in agriculture and food industry
Source: Pixabay

The feasibility and usage of cryptocurrencies and blockchain technology in real life scenarios seems to be the norm as multiple luminaries spoke in support of digital assets and their underlying technology. The latest person to speak for blockchain technology is French President Emmanuel Macron, who stated that blockchain technology can be used to boost the agricultural industry as well as address concerns related to the food industry.

Macron stated,

“Let’s do this in Europe, [be at the] the vanguard of agricultural data by developing tools that will track every product from raw material production to packaging and processing.”

The French President was speaking at the 56th International Agricultural Fair in Paris, where the Premier touched upon the need to track commodities so that it does not lead to scandals or issues. He further stated that innovations in fields such as blockchain should trickle down to other industries so that they can also benefit from it. In his words,

“The innovation is there and it must be used in the agricultural world as doing so would both bring shared excellence and offer benefits to consumers.”

Emmanuel Macron was also of the opinion that this system should be used by members of the European Union as well because of the sheer potential that currently exists in the market. France has not been completely against cryptocurrencies and blockchain technology, as evidenced by the developments going on within the P5 nation.

In fact, France’s Financia Business School started accepting fees in Bitcoin [BTC] for postgraduate courses in financial and blockchain technology. Adam Hasib, a student at the school, spoke about the payment process and stated,

“I paid the registration deposit at school with the added value achieved in the meantime. I just had to contact the administration to get the wallet address before depositing my fees at the school.”

Bitcoin [BTC], Ethereum [ETH] and XRP, the big three of the cryptocurrency world are also accepted as donations by UNICEF France. Sebastian Lyon, the Executive Director of UNICEF France, claimed,

“Cryptocurrencies and blockchain technology for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our actions with children in our country of intervention.”

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Montana State makes a move in favor of crypto-space as the law recognizes utility tokens as not securities





Montana state makes a move in favor of crypto-space as the law recognizes utility tokens as not securities
Source: Unsplash

The United States has always been the highlight of the cryptocurrency space in terms of its regulation, with some states introducing laws in its favor and others deciding to not make an official stance. In terms of laying crypto-friendly rules and regulation, Wyoming has always been one of the most recognized state, while the most hostile one is deemed to be New York.

Colorado made headlines earlier this year, with the Digital Token Act that exempts utility tokens from state securities law being signed by the governor in early March 2019. Notably, in the same month, Wyoming State Senate also passed House Bill 70, Utility Token Bill.

Now, another state has joined the bandwagon by making a similar move. Drew Hinkes, Attorney at Carlton Fields, stated that the State of Montana recognizes utility tokens and exempts it from state securities law. The initial announcement pertaining to this bill was made in February 2019, where Montana House Bill was introduced to “Generally revise laws relating to cryptocurrency”.

The Attorney stated on Twitter,

To this, Caitlin Long, the Co-Founder of Wyoming Blockchain Coalition stated,

“Congrats to #Montana for joining #Wyoming & #Colorado in recognizing that #utilitytokens are not securities under state law!”

Montana also made headlines because of news pertaining to cryptocurrency mining regulation. According to a local news portal, Missoula County commissioners had directed its staff to outline an interim law that regulates the cryptocurrency mining industry. The decision to introduce laws on crypto-mining was made due to concerns pertaining to electricity consumption, with the county prompting the use of renewable energy for mining.

Commissioner Cola Rowley had stated,

“This isn’t throwing ice on economic development or saying that industries aren’t welcome here because we’re an unfriendly environment that hates progress. Cryptocurrency and economic development – bringing businesses here – are two very different things.”

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