Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The European Commission has launched the EU Blockchain Observatory & Forum. The initiative aims to âhighlight key developments of the blockchain technology, promote European actors, and reinforce European engagement with multiple stakeholders involved in blockchain activities.â
body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}
Launch of the EU #Blockchain Observatory & Forum w/ @jakob_eu @ethereumJoseph - Blockchain technologies offer a wide horizon of opportunities that impact our daily lives by shaping the future of #security #trust #traceability meaning better services & products for citizens
âââ@GabrielMariya
function notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}
âTechnologies like blockchain can help reduce costs while increasing trust, traceability and security,â Andrus Ansip, European Commission Vice-President for the Digital Single Market, said in a statement.
Ansip highlighted the âhuge potentialâ of blockchain âfor making social and economic transactions more secure online by guarding against an attack and removing the need for any middleman.â
EU Commissioner Mariya Gabriel, in charge of the Digital Economy and Society portfolio at the European Commission, defined blockchain technology as âa game changer.â
She added that entering the blockchain space is key for the EU in order to position Europe âat the forefront of its development.â
This is a further step in implementing better policies and activities around blockchain, while giving the European Union an important voice. In November 2016, the European Commission created a Task Force on Financial Technology to develop a comprehensive strategy on fintech. Furthermore, the Commission is currently working on a FinTech Action Plan to be presented in the spring.
According to Bloomberg, the EU push âis one of several to try to ensure research projects acrossâ the bloc and to better coordinate their efforts.
Bloomberg reports that the European Central Bank (ECB) has also been looking for ways to harness the new technology, while ECB President Mario Draghi said in May the central bank was closely watching blockchain innovation to ensure that its adoption around the euro area doesnât fragment payment systems.
The newly-established EU Blockchain Observatory and Forum will operate in partnership with ConsenSys to help with outreach initiatives in Europe. The company will work in close cooperation with the European Commission to run the Observatory.
The EU statement explains that the Observatory will âplay an active role in helping Europe to seize new opportunities offered by blockchain, build expertise, and show leadership in the field.â
It added: âIt [the Observatory] will be gathering information, monitoring and analyzing trends, addressing challenges and exploring blockchainsâ socioeconomic potential.â
The new entity will also facilitate more cooperation in the blockchain space, new partnerships with all interested stakeholdersâââtechnologists, innovators, citizens, industry stakeholders, public authorities, regulators and supervisors.
Blockchain in Europe was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.