EC Launches Blockchain Partnership Initiative at EU DD18

EC Launches Blockchain Partnership Initiative at EU DD18

Kerry Wise
April 12, 2018

Mariya Gabriel, Commissioner for Digital Economy and Society, said that in the future, all public services will use blockchain technology.

Tuesday, European Commission (EC) vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of "the areas where Europe is best positioned to play a leading role", with the caveat that the continent needs to invest much more in its technology sector.

The European Commission also launched the EU Blockchain Observatory and Forum in February and has already invested more than £70m in projects supporting the use of blockchain in technical and societal areas.

Twenty-two EU member states signed a declaration to establish a European blockchain Partnership according to the European Commission website.

"For the Digital Single Market to work for people and business, to advance on our digital priorities, to make sure that Europe is a world digital leader: we need hard cash".

The European Commission brought prominent digital technology stakeholders from across Europe together with the aim of reaching joint commitments to bolster the European Union's digital future.

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The Commission believes co-operation between member states for blockchain services and applications can avoid fragmented approaches and enable the development of interoperable frameworks for blockchain in Europe based on standardised solutions and governance models.

The afternoon was partially devoted to the Blockchain Partnership Initiative, which was featured in a session devoted to ensuring Europe "seizes all the opportunities offered by a transformative blockchain ecosystem". All member states are invited to become part of the Blockchain Partnership.

The European Commission and the European Investment Fund (EIF) have launched a venture capital programme aimed at resolving the size problem that has deterred many investors from allocating to the asset class.

The Commissioner for Health and Food Safety, Vytenis Andriukaitis said, "I welcome this initiative connecting genomic and other health data across the European Union". At the same time, the continent's startup ecosystem has been surging thanks to big investments by the European Union, which is counting on entrepreneurs to give the region an economic boost.

The proposal calls for: better public access to information submitted to the European Food Safety Authority (EFSA) by industry; more public consultations on scientific evidence; and guarantees that studies meet high scientific standards.