22 EU Member States signed to join European Blockchain Partnership

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Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data

The Vice-President of European Commision (EC) Andrus Ansip expectes the European nations to take the lead in digital innovation by adopting blockchain technology, along with Artificial Intelligence (AI).

On the Digital Day 2018 held in Brussels, Belgium, the European Union (EU) countries came together to discuss issues related to European future technologies, thereby encouraging investment in Europe's digital technology and facilities in order to build a safer society and better public services.

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On April 11th, 2018, 22 EU Member States signed a Declaration on the establishment of a European Blockchain Partnership with the expectation that the organization would be the bridge between nations to exchange experiences and expertise about the field and to construct legal frameworks for the wide adoption of blockchain technology in the Digital Single Market.

Mariya Gabriel, Commissioner for Digital Economy and Society, strongly supports the signing of the declaration:

“In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and 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. 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 decentralized and collaborative nature of blockchain will increase the scale of the Digital Single Market, and will enhance the cross-border interaction in order to prevent fragmented approaches.

The EU established the EU Blockchain Observatory and Forum at the end of February 2018 and invested more than 80 million euros to support the blockchain application project in the technical and social areas. The EC has set up a € 300 million blockchain research fund to be allocated by 2020.

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In the planning timeline, by September 2018, the EC will have initially established a cross-border digital public services sector that will increase the value of the blockchain infrastructure to help construct other application cases. By the end of 2018, EC will have improved the governance model and essential regulatory framework that will be suitable for both public and private sectors.

Aside from the 22 countries that have signed the declaration, other countries of the EU and the European Economic Area are also welcomed to join the European Blockchain Partnership.

Written by nami.today

 

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