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Presenting Bloomen & Blockchain Concepts to Cyprus Government

Blockchain technology and crypto currencies could have reaching implications – many of those innovative. In an information meeting Bloomen project partner Antenna discussed concepts and potential outcomes with the tax commissioner of Cyprus.

The main goal of the exchange was to mutually exchange views on blockchain implications. Present at the meeting were Mr. Yiannis Tsangaris, Tax Commissioner of Cyprus for the Ministry of Finance. Other attendants were Ms. Natasa Akkidou, Deputy Tax Comissioner and technicians from the IT department.

Michalis Odysseos, Innovation Manager from Antenna provided an overview and presented key goals of Bloomen as a project:

  • A visual representation of the project and how mobile wallets work.
  • Current and future concepts of watching TV through the Internet.
  • The concept of token payments and how predefined tax (VAT) could be paid directly to the wallet of a Tax authority.
  • The importance of fair distribution of copyrighted content and how the Bloomen projects aims to eradicate the misuse of copyrights.
  • Discussion of benefits for customers, related to current models based on blockchain and token models, i.e. less need for extensive personal info, no credit bank account to use.

As a result the group discussed potential implications in the future, such as how a government can ensure payment of taxes for blockchain-driven transactions. The participants agreed to follow future developments in this space and to conduct additional exchange when more results from the Bloomen project become available.