A study by the European Parliamentary Research Service published Friday contended that the digitalization of assets could benefit the European Union’s overall economy as digital finance continues to play an increasingly bigger role in the bloc’s financial services.
The study focused on why the EU should hop on the crypto assets train, highlighting how the ongoing expansion of the crypto ecosystem is changing the preferences and usages amongst investors and consumers.
According to the report, broadening the crypto-assets market would facilitate digital financial innovation, increase high skill employment and promote more innovation and investment, which would open up more opportunities for businesses and startups.
“…[F]rom a macroeconomic perspective, the digitalisation of assets could also benefit the overall economy. The overall broadening of the crypto-assets market, which as mentioned above would go hand in hand with digital financial innovation, could increase high skill employment, innovation and investment,” the report noted.