Global E-commerce Summit 2017: Policy Arena on “The role of digital currencies and blockchain in e-commerce: Security vs. innovation”

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For the first time in the history of the conference, Ecommerce Europe presents four policy tracks within the Global E-commerce Summit program. As in previous years, we have invited policymakers, C-level speakers from prominent e-commerce companies and promising startups as well as other influential stakeholders to discuss the effects of upcoming policy changes in Europe on the e-commerce sector. The objective is to learn how online merchants can prepare themselves for upcoming technological and regulatory developments. Ecommerce Europe’s policy tracks provide participants with the opportunity to have a say on the most pressing topics in e-commerce related policy.

Panel discussion on ‘The role of digital currencies and blockchain in e-commerce: Security vs. innovation’

Day two of the Global E-commerce Summit’s policy tracks focus on upcoming legislation and future developments in global e-commerce. Beside a policy discussion on Parcel delivery in e-commerce in the morning of Wednesday 14 June, the day’s afternoon policy track will focus on technological developments and future legislation in online Payments.

The role of digital currencies and blockchain in e-commerce is becoming a hot topic amongst politicians, and can potentially help both online merchants and consumers. European policy makers are currently discussing legislation to bring virtual currency exchanges and wallet providers into the EU’s anti-money laundering framework. By 1 January 2017 this legislation should be implemented everywhere in Europe in national law. Wallet providers and virtual currency exchangers then will have to carry out customer due diligence, monitor transactions and report suspicious transactions. This only includes those who are exchanging between virtual and flat currencies. Virtual currency to virtual currency exchanges are not co This policy track discusses the pressing questions surrounding this hastily implemented legislation, mainly focused on its effect on innovation in the online payments world affecting e-commerce. Amongst others, the following questions will be addressed:

  • What will these new rules mean for online payment methods for businesses and consumers?
  • Will we see the rise of exchanges between virtual currencies (such as Bitcoin-to-Ether)?
  • Will wallet providers include extra steps for consumer authentication, thereby affecting ease-of-use?
  • Have European policy makers gone too far in their quest against terrorism-financing by harming businesses? Or will increased security in virtual currency exchanges also reduce fraud levels?
  • What will future technologies look like?

For more information on the program of the Global E-commerce Summit 2017 and to register, please visit the event website  e-commercesummit.com. For more information on the Policy Arena, please contact  lucacassetti@ecommerce-europe.eu.

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