While the cryptocurrency market struggles to regain the bases after the record set at the end of last year, traditional financial institutions, corporations and governments are all trying to integrate the Blockchain technology that underlies cryptocurrencies for their own purposes, including the European Union.
On April 10, 22 countries of the European Union signed a declaration on the establishment of a European partnership on the Blockchain.
The goal is to make Europe a world leader in the development and launch of blockchain technologies, the international partnership claims to be “a vehicle for cooperation between Member States to exchange experience and expertise in the technical and regulatory fields and prepare the launch of broad applications through the digital single market for the benefit of the public and private sectors “.
Mariya Gabriel, Commissioner for the economy and digital society, not only welcomed the signing of the partnership, but also formulated some seriously bullish statements: “In the future, all public services will use blockchain technology. It is a great opportunity for Europe and the Member States to rethink their information systems, to promote user trust and protection of personal data, to help create new business opportunities and to establish new areas of leadership, to the benefit of citizens, public services and businesses. The partnership launched today allows Member States to work together with the European Commission to transform the enormous potential of technology into better services for citizens “.
Blockchain, the EU Commission has already invested 80 millions
Since its launch of the Blockchain Observatory and Forum in February this year, the European Commission has already poured 80 million euros into blockchain projects to support technological and social progress. The Commission expects to spend an additional 300 million euros on the progress of the blockchain in the coming years.
The following countries have signed the Declaration:
Members of the EU and the European Economic Area who have not signed, like Hungary, are nevertheless invited to join the European partnership.
Two projects already funded by the EU include MHDMD – a blockchain for ehealth – and DECODE, which provides tools that allow individuals to monitor whether they keep their personal data private or share it for the public good.