Another European country is planning to regulate Initial Coin Offerings (ICOs), blockchain technology and cryptocurrencies. The intention behind this plan is to establish a stable and legal ecosystem for the adoption of these interesting technologies.

Slovenia Backs Blockchain Technology

Slovenia will be establishing a legal framework that will allow blockchain-related companies to settle in the country. With this new proposal, there will be economic and political stability around these new technologies, which is quite important nowadays.

The economic ministry noted that it wanted to include regulations on ICOs, which have been involved in different fraudulent activities and scams.

With the application of blockchain technology, local authorities believe that Slovenia’s economy can improve its productivity.

At the beginning of the year, the prime Minister Miro Cerar, had a meeting with important members of the government and blockchain start-ups.

Mr. Cerar commented about that:

“The government is aware of Slovenia’s involvement in the global flows, and with our vision of modernization and digitization promotion in all areas, we are bringing to the fore the introduction of new technologies. We thus recognize blockchain technology as an exceptional opportunity: in this respect, Slovenia is at the forefront and one of the most recognized blockchain destinations in Europe.”

After the meeting, the government and the start-ups presented the so called Blockchain Alliance CEE, that will allow them to have greater access to the market and be more competitive in the international stage.

Bitcoin Roundabout

Why not to mention that Slovenia has decided to open a new bitcoin roundabout in the city of Kranj. The sculpture weights three tonnes and has 7 meters’ diameter. The symbol has been chosen by the people on the official Facebook site of the city. That shows the increased interest in cryptocurrencies, bitcoin and blockchain technology that can be seen in the country.

“We asked citizens on our Facebook page to decide what to place in the new roundabout and this was one of the first ideas we received… Krajn has a lot of companies dealing with high technology,” commented Krajn’s major Bostjan Trilar.