Digital Day 2018 Highlights EU Blockchain Partnership Initiative

12 April, 2018, 00:27 | Author: Edward Snyder
  • Russia attack EU European Union nerve agent Putin

EC vice-president Andrus Ansip underlined blockchain technology among "the areas where Europe is best positioned to play a leading role" alongside artificial intelligence (AI).

Further, the EC announced that it will form a European Blockchain Partnership to "promote interoperable infrastructures", though no further details are available at this time.

The event highlighted how blockchain will work with other next-generation technologies to create a more digitally friendly and capable Europe. Post-withdrawal from the EU may mean that actually, we are required to leave the partnership, this seems unlikely however as honestly, there would have been no point in signing up from the outset, therefore I expect that this has already been discussed and a contingency plan to keep the United Kingdom as a part of the European Blockchain Partnership is already in place.

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". The EU Blockchain Observatory & Forum was initiated in February 2018 to accelerate the implementation of distributed ledger technology (DLT) across Europe.

Digital Day 2018 was held yesterday, and the European Commission lead the signing of a Declaration which constructs a European blockchain partnership made up of 22 European countries.

The collaboration is aimed to avoid "fragmented approaches" to the technology by sharing technical and regulatory expertise among member states, as well as creating ways to promote blockchain applications across the EU-wide Digital Single Market.




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 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".

Earlier in February, the EC launched the EU Blockchain Observatory and Forum and has already invested more than Euro 80 million in projects supporting the use of blockchain in technical and societal areas. 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.

In a speech centered on digitization, a vice president of the European Commission - the executive arm of the European Union - pinpointed blockchain technology as an area that EU nations ought to be committing to.

"In the future, all public services will use blockchain technology".

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