Blockchain Is 'Going Mainstream' Says European Commission Official

Blockchain Is 'Going Mainstream' Says European Commission Official

Since discussions began, the European Union have published a press release which discusses the results of the Digital Day talks and discusses plans for the new European Blockchain Partnership.

In an attempt to unify the European Union's fractured membership around a common digital policy, EU leaders announced a series of measures created to make Europe more competitive in critical emerging technologies.

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".

Ansip recognized blockchain technology and artificial intelligence as being two of the fields which the continent must commit to work on collectively. "With VentureEU, Europe's many innovative entrepreneurs will soon get the investment they need to innovate and grow into global success stories", Commission vice-president Jyrki Katainen, responsible for jobs, growth, investment and competitiveness, said.

After briefly recapping the progress since Rome, the event broke for coffee (it is Europe, after all) before discussing how to pave the way for the EU Artificial Intelligence Initiative, which focused on securing "commitments from EU Member States governments and key stakeholders from industry, academia and civil society", especially with regard to engaging in the European AI Alliance.

"In the future, all public services will use [Blockchain] technology".

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"For the last eight years, Invest Europe has advocated using public money in new ways to bring in more private capital and facilitate the next stage of venture capital's evolution in Europe", said Michael Collins, CEO of the trade body.

More broadly, Ansip positioned the EU's investments in blockchain and other emerging technologies in the context of the Digital Single Market, with the goal of extending the EU's uniform regulatory structure to the technology sector.

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. 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 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 six funds are to be managed by Aberdeen Standard Investments, Axon Partners Group, IsomerCapital, LGT, Lombard Odier Investment Managers and Schroder Adveq.

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