The Portuguese government has decided to provide a facelift to its economy by the creation of technological free zones. Unveiled on 21 April, it was pledged by the council of ministers to adopt technological free zones in order to quell the burden on regulatory bodies.
The independent law firm of Portugal, Viera de Almeida too has approved of the plan and has expressed its views in favor of the set-up of a technological free zone which encourages experimentation and innovation.
Almeida says, “The Resolution notes the importance of approving a legal framework that promotes and streamlines experimentation activities in a cross-sector manner in order to take advantage of all the opportunities brought by new technologies – from artificial intelligence to blockchain, bio- and nanotechnology, 3D printing, virtual reality, robotics and the Internet of Things, and including Big Data and the 5G network.”
The Motive Behind the Technological Free Zones
The Portugal government accords that allowing free space for experimentation and innovation on technological aspects like artificial intelligence, 3D printing, virtual reality, or blockchain technology will help to foster a healthy economy, and being technologically well-equipped will be an advancement that will benefit all sectors.
What is New in the Plan?
Almeida opines that this approach to experimentation with technology is unique, unlike the traditional approaches. This is an action plan which aims to ensure advancement in cybersecurity, defense, data economy, digital privacy, communications, and infrastructure.
This new initiative will also broaden the reach of the educational sector to many so that more citizens can avail and afford to learn and only then the nation will progress in the true sense.
Plans About Blockchain
Countries across the world are turning towards blockchain and are finally taking notice of the potential it holds. Not just Portugal, but countries like China, the UAE, France, and the UK to name a few are making blockchain centric policies to make the most of the technology.