Crypto News

EC backs Blockchain EU DD18, backs support from 22 Countries

In an event organized by the European Commission called EU Digital Day 2018, the organizers invited digital technology experts and interested people from across Europe, as published in

The event was organized with the help of Bulgarian Presidency of the Council of the EU. This one-day event tried to explore the digital future of Europe by using advanced technologies like artificial intelligence, eHealth, and blockchain. In the afternoon session blockchain became the main topic of discussion as Blockchain Partnership Initiative unfolded.

22 European countries signed the declaration on the establishment of the initiative.

Mariya Gabriel, Commissioner for Digital Economy and Society, in support of Blockchain Partnership Initiative said, “In the future, all public services will use blockchain technology. The blockchain is a great opportunity for Europe and the Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services, and companies.”

She further added, “The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens.”

The countries impressed with the idea of blockchain partnership initiative include Germany, Austria, UK, France, Finland, Ireland, Malta, Poland, Spain, and Sweden. The members will work together to form a blockchain network to gain benefit in international business and internal management.

Jeremy Miller, Co-ordinator European Blockchain Observatory & Forum, expressed his views on Europe’s position in the global expansion of the technology.  He also convinced the attendants that the continent has a big opportunity in becoming the leader in blockchain space.

The EU Blockchain Observatory & Forum was formed in February 2018 to implement blockchain technology in Europe. According to Miller, the observatory will work on three primary objectives:

  • Create a pool of knowledge about blockchain
  • Explore conditions that help to speed up blockchain innovation.
  • Prioritize use cases.

The press release stated that this partnership would be a “vehicle for cooperation amongst the Member States to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide [Blockchain] applications across the Digital Single Market for the benefit of the public and private sectors.”

Switzerland and Dubai have been successful in implementing blockchain technology at the government level. He also referred to numerous state-backed DLT projects in France, Spain, Estonia, Netherlands and the UK.

Apart from Miller, the panel for blockchain initiative featured Dutch economic affairs state secretary Mona Keijzer, Poland’s under-secretary of state Karol Okonski and MEP Sorin Moisa.

In a similar news, reported that European Commission had funded blockchain related projects with 80 million Euros ($90 million). The commission is also set to invest around 300 million Euros ($371 million) in blockchain development by 2020.

The European countries have an advantage of receiving mutual support in order to understand and apply the blockchain technology. As of now the plan laid out by EC looks promising but hard to get.