Countries Sign Declaration For European Blockchain Partnership
12 April, 2018, 00:27 | Author: Kim Reid
"In the future, all public services will use [Blockchain] technology".
Today's commitments by Member States give a strong signal: We all understand that Europe's future is digital and that the only way to fully reap the benefits of new technologies is by working together, joining forces and resources. "However, it is no secret that we have to invest - both politically and financially".
The website describes blockchain as a technology capable of promoting trust.
The afternoon session was dedicated to the Blockchain Partnership Initiative.The European Commission (EC) organized on Tuesday the EU Digital Day 2018, which drew digital technology experts and enthusiasts from across Europe.
The US has traditionally provided more fertile ground for start-ups than Europe for a variety of reasons. The partnership sees it's ultimate goal as that of ensuring Europe stays at the forefront of blockchain technology development and implementation.
This approach should allow all members equal input to creating an enabling ecosystem that supports full compliance with European Union regulations and that will encourage blockchain based services to succeed across Europe.
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The signatories agreed to co-operate to establish the partnership with a view to developing a blockchain infrastructure that can enhance value-based, trusted, user-centric digital services across borders within the Digital Single Market. All member states are invited to become part of the Blockchain Partnership. The press release states that the EC has now invested more than 80 mln euros in blockchain projects already and now has 300 mln euros to be distributed to blockchain development by the year 2020.
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