Portugal Will Create Free Zones for Blockchain and Other New Technologies Development

Portugal has an intention to create “Free technological zones” with adapted regulatory modes with an aim to stimulate experiments in the spheres of artificial intelligence (AI), blockchain and 5G.

Portugal Will Create Free Zones for Blockchain and Other New Technologies Development
Portugal Creates Free Zones for Blockchain and Technologies Development

This week Portuguese government has published an action plan for the transition to digital technology. Within the plan they have offered to create “Free technological zones”, that are adapted to decrease regulatory burden for developers of new and experimental technologies, according to Council of Ministers of the country.

Portuguese law firm Vieira de Almeida has noted that accepted legal base for free zones goes beyond existing approaches to normative “sandboxes”, which are set in accordance with sector`s needs. Instead of this, Council of Ministers intends to stimulate experiments in various sectors:

“In the resolution is stressed importance of the regulatory base approval, that encourages and optimizes experimental intersectoral activity to use all the opportunities provided by new technologies — from artificial intelligence to blockchain, bio and nanotechnology, 3D printing, virtual reality, robotics and the Internet of things, including big data and 5G network”.

According to Vieira de Almeida, this is more coherent approach to products and services development, both private and public, taking into account the involvement of various regulatory bodies.

Portugal’s action plan for building a digital society will stimulate the knowledge based economy to speed up growth of different sectors. It includes work with regulation, digital confidentiality, cybersecurity, data economy and infrastructure.

The government has also announced educational initiatives to increase citizens’ access to digital technology and claims that new technologies are necessary for economic development and restructuring of the state, private sector and strategic industrial sectors.

Leave a Reply

Leave a Reply