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Why Europe is investing in blockchain technology

The new initiative will help Europe to set out its innovative vision and ambition on the international scene

Why Europe is investing in blockchain technology

Claudia Astarita

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The European Commission is aimed at developing a common approach on Blockchain technology for the EU in the international arena. Accordingly,at the beginning of 2018 a new EU Blockchain Observatory and Forum has been launched to map all existing initiatives on blockchain, monitor related trends and developments, inform policy debates and inspire common actions based on specific use-cases.

The new initiative is meant to become a knowledge hub on blockchain and will represent a major communication opportunity for Europe to set out its vision and ambition on the international scene. On top of that, the DG CONNECT has decided to launch a EUR 5 million worth European Innovation Council (EIC), Horizon Prize on "Blockchains for Social Good". This prize  provides an excellent incentive to attract developers and interested citizens to this innovative topic.

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