The European Commission (EC) recognizes the massive potential of Blockchain technology

The European Commission announced this week that it would work more on technology development in the future, and in particular to encourage the development of the blockchain technology.

This decision came after the EC formed Blockchain Observers and Forum in February in cooperation with Startup ConsenSys, which announced an investment of $ 300 million in future block ing projects.

EC’s tends to”leadership role.”

During the European Commission’s Digital day in Brussels, Andrus Ansip, executive director of this institution said that Europe should take the lead in blocking technology in what, parallelly with investing in Artificial intelligence, sees the future.

He also pointed out that the European Commission can’t take over such an investment on its own, and that European governments and private investors should be involved as soon as possible.

22 EC’s member states have signed the European Blockchain partnership

As the EC’s official informs, the goal is to form the European partnership for blockchain and create a Digital Single Market following the General Data Protection Regulation. Creating such an atmosphere in the European technology sector would lead to the promotion of blockchain and the defragmentation of different approaches to regulatory and technical expertise in the EU countries individually.

European Commissioner for Digital Economy and Society, Mariia Gabriel explains that all public services will use blockchain technology in the future, taking Europe to be a leader in innovation in this area, but also will provide quality services to all citizens.

A total of 22 EU member states enter the announced partnership, including Germany, France, the Netherlands, Norway and Spain.

It is an essential step by the EC, and member states will find themselves in a position to work together to implement new technologies in their systems and promote user trust and personal data protection, the commissioner concludes.

By creating a single digital market and such a partnership, Europe has new opportunities to take on the leading role in this sector. The blockchain is undoubtedly a future that will bring new business opportunities to members, large companies, and users.

It is evident that the European Commission sees the vast potential of the blockchain and the tendency to bring it to the surface.

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