m3n4.net
m3n4.net April 24, 2018


European Nations Form New Blockchain Partnership

12 April 2018, 12:21 | Tara Lloyd

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Andrus Ansip pointed out the importance of becoming the world leader in digital technology and called on the European Commission to give full support to the European technology sector "both politically and financially".

"22 European countries signed today a Declaration on the establishment of a European Blockchain Partnership".

Blockchain technology is a system of organization of distributed databases.

In his opening keynote, he addressed Europe's path forward: "The European tech sector identifies AI and blockchain as the areas where Europe is best positioned to play a leading role".

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Part of this push for standardization is the General Data Protection Regulation, which will govern the treatment of European Union citizens' personal data beginning in May.

Some EU member states already allow consumers to jointly sue a company for compensation, but there is no effective EU-wide tool.

The declaration will bring together member states to exchange their experience and expertise in technical and regulatory fields.

The countries, including the U.K., France, Germany, Norway, Spain and the Netherlands, signed a declaration on Tuesday establishing the new group, dubbed the European Blockchain Partnership, according to a release from the European Commission, which led the effort. By pooling health data, using artificial intelligence and blockchain and promoting innovation, Europe can significantly improve people's lives.

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Blockchain, it is suggested, makes it possible to share on-line information, agree on and record transactions in a verifiable, secure and permanent way.

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.

Commissioner for Digital Economy and Society Mariya Gabriel supported the Blockchain Partnership Initiative by saying:"In the future, all public services will use blockchain technology".

In the United Kingdom, we are constantly faced with news of Brexit and the pressures of the European Union referendum, to be honest, it is rare that we hear of any positive movements within negotiations and deals, this one however stands out as something both important and progressive. 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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