Romania Sees First Cryptocurrency Organisation

Romania has established its first cryptocurrency organisation, according to local media outlet Bugetol.

The United Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Association of Romania is a non-governmental organisation founded on the 2nd of March. Its purpose is to raise awareness of cryptocurrency by educating the public and creating a platform for dialogue.

The founding members are Andrei Stănică, an entrepreneur and cryptocurrency investor, Andrei Pipas, another entrepreneur, and Ruxandra Iane, fund consultant and gender equality specialist.

"All of the United Blockchain Association objectives are in fact topics that we intend to address in the near future with the decision-makers in Romania, but also with the enthusiasts of the blockchain and crypto domain in our country. Our organization aims to provide an umbrella to support the common interests of those who are actively involved in this field in a formal manner. We want to unify the ad-hoc groups and create a strong coalition that will be the interface in direct communication with the Government, the Parliament, the NBR and the ASF," said Stănică. "We are already in contact with some of the organizations in the European countries and we want to make partnerships."

Romania's first Bitcoin ATM was set up in Bucharest in May 2014, and the country's first exchange, BTCXchange, attracted 2,000 customers within seven months of opening, according to Reuters. That same report said that there were a number of Romanian service providers accepting Bitcoin, as the citizens of the European Union's second poorest country are "tech-savvy and still deeply distrustful of officialdom 25 years after the end of communism."

The biggest exchange in the country at the moment, Bitcoin Romania, celebrated its fourth birthday two days ago, and another exchange, CoinFlux, recently announced it has traded 23.8 million dollars' worth of cryptocurrency since its foundation in December 2015, according to Bitcoin Magazine.

Ilan Laufer, Romania’s Business, Commerce, and Entrepreneurship Environment Minister, said to local press in December 2017: "I strongly believe in the idea of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and that the future and the way we complete transactions—the way in which banks behave—will be affected by the development of this new industry. It’s a challenge for the banking system because this area isn’t very well regulated and I believe that this should happen. It’s an area in which lots of money circulates, but it is also a new technology. We have to understand and look at what benefits it brings with it and how it can be implemented in the real economy."