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European Blockchain Partnership Confirms Britain's Belief In EU Partners

12 Апреля 2018

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.

On April 10, the European Commission announced the launch of a venture capital funds-of-funds programme to foster start-ups in the EU.

Tuesday, European Commission (EC) vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of "the areas where Europe is best positioned to play a leading role", with the caveat that the continent needs to invest much more in its technology sector.

All EU member states except for Croatia, Cyprus, Greece and Romania vowed to modernise national policies as part of an effort to develop large-scale AI research. In March the commission stated its intentions to launch a joint regulatory framework on Fintech, which will include crowdfunding and Blockchain technology standards. "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. Calls for the European Union to introduce collective lawsuits, a tool used extensively in United States litigation, had grown after Volkswagen clients were outraged to learn that the German vehicle giant had cheated on emissions tests.

The EC now says it will invest €300 million in projects directly related to the use of blockchain technology. The afternoon session was dedicated to the Blockchain Partnership Initiative.

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I believe that the establishment of this partnership not only ensures that member states will be at the forefront of blockchain technology, but it also ensures that Europe on the whole has the power to keep up with Asia and America in terms of their rapid blockchain technology progression.

Mariya Gabriel, Commissioner for Digital Economy and Society, said, "In the future, all public services will use blockchain technology".

"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", Gabriel added. 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.

The EU's investment in VentureEU will be managed by the EIF under the supervision of the EC, and will be overseen by six experienced private fund managers.

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European Blockchain Partnership Confirms Britain's Belief In EU Partners