Paris, 6 May 2024 - Ahead of the European elections on 9 June and the renewal of the European Parliament, Adan has published its manifesto addressed to the EU institutions. The association of Web 3 professionals has put forward 22 proposals aimed at enabling Europe to take advantage of blockchain and crypto-asset technologies to strengthen its public policies regarding it: strategic autonomy, employment, protection of fundamental rights, inclusion and democratisation, protection of personal data, protection of intellectual property, the fight against fake news and to achieve a successful digital and ecological transition.

 

Positive economic indicators that need to be bolstered by a strong political will

Adan, an association of 200 companies providingservices around blockchain and crypto-asset technologies, has drawn up an encouraging picture of the European Union's position in the emerging Web 3 industry.

As the world's leading hubfor Web 3 startups and jobs, the European Union is demonstrating a dynamism that could position it as a long-term leader in this innovation. This is a trend that the sector's professional association warmly welcomes, since on a global scale, the Web 3 market is expected to reach 59 billion dollars in revenues by 2028 according to the outlook presented in the March 2022 Business Markets Insights report. 

However, the ecosystem's companies are still encountering a number of difficulties to scalein Europe. These include: the intrinsic characteristics of blockchain and crypto-asset technologies being little or insufficiently known, which hinders their deployment in areas where they could be of major use; legal uncertainties linked to the youth of this innovation, which prevent them from launching their businesses in a clear and secure environment; and European investors, who are notably lacking as companies mature. In this respect, Europe is still failing to support companies as they grow, and is lagging behind the United States in terms of the number of Web 3 unicorns on its soil.

The Old Continent will therefore have to intensify its efforts to maintain its leading position in the Web 3 field, resulting from a dynamic entrepreneurial fabric and the design of innovative frameworks to regulate the sector's development. However, these assets are not a unique solution to all the difficulties encountered by the players, and as such, cannot be exempt from concrete and lasting public support.

 

Adan puts forward twenty-two recommendations for a stronger Europe, which reaffirms its values and prepares for the future thanks to Web 3 technologies by responding to three clear objectives: 

  • Better support companies as they grow, so that the future champions of the Internet of value develop on European soil; 
  • Legally recognise the intrinsic characteristics of blockchain and crypto-assets as compliance tools in order to encourage the private sector to seize these technologies; 
  • Explore the potential of Web 3 and its many applications to efficiently meet Europe's public policy objectives.

For Faustine Fleuret, President and CEO of Adan, "There is an urgent need to understand the impact that Web 3 innovation will have on different areas of the economy and society, whether it involves transforming them or solving problems they have been facing for a long time. Regulation alone will not ensure the success of the European project. The European institutions must therefore show inventiveness, even audacity, and keep an open mind in order to explore and benefit from the innovation offered by blockchain and crypto-asset technologies."

 

About Adan

Adan brings together 200 professionals - new players and established companies - who develop innovation and Web 3 use cases in all areas of the economy on a daily basis. By removing the obstacles to their growth and competitiveness, Adan is working towards the emergence and influence of French and European champions in the service of our digital sovereignty. Adan promotes an appropriate, proportionate and catalytic framework for innovation, as well as a better understanding of new blockchain technologies, crypto-assets and their opportunities. 


Contact : Faustine Fleuret, [email protected], +33 7 67 97 53 12