Members of the European Parliament will be given the opportunity to learn about blockchain technology and distributed ledgers in next week’s conference on digital currencies. The event will be hosted by The EU Parliament and representatives from the IMF, Bank of International Settlements, United Nations and many other academic institutions and regulatory bodies, will be in attendance.

Many European financial firms and banks have started experimenting with the technology in an attempt to modernize and streamline various portions of the financial system. But EU lawmakers have been left scrambling to come to grips with the novel technology and its seemingly never ending societal and economic implications.

This conference is designed to give EU Parliament members a comprehensive overview of the technology so they can be better equipped to handle the looming regulatory challenges.

According to the official Finextra press release, industry leaders and blockchain experts from the Nasdaq and Blockchain.info, will be among the presenters at the event.

Syed Kamall, who was elected to EU Parliament in 2014 and is currently leading the European Conservatives and Reformists party, will be hosting the exhibition and explained that lawmakers have been careful in their approach, “Legislators internationally are now looking at this area and how to protect the consumer while stimulating innovation.” he said.

Kamal also organised the event with assistance from the Brussels-based European Digital Currency & Blockchain Technology Forum (EDCAB).

Founder of EDCAB, Siân Jones, said that communication between industry leaders and lawmakers is an important first step in developing appropriate regulations:

“For a strong and comprehensive policy and regulatory framework, collaboration based on indepth understanding of the technology and open debate is vital.”

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