The blockchain technology significantly influences the traditional economy. While more and more money become digital and the crypto infrastructure develops, governments throughout the world are trying to figure out the best way of living in the crypto reality.
Europe has definitely been kind to the new technology this year. On the 10th of April 22 countries in the European Union made a big step towards the blockchain future – they signed a Declaration on the Establishment of a European Blockchain Partnership.
Bitcoin and its competitors have spread all over the world gaining incredible popularity in Asia and attracting billions of dollars to North America. Nevertheless, the European Union wants to become the global blockchain leader.
Mariya Gabriel, Commissioner for Digital Economy and Society, has an optimistic view on the blockchain future of Europe: “In the future, all public services will use blockchain technology. 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 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”.
Blockchain is a global technology – however, the list of the countries participating in the European Blockchain Partnership is impressive: Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and the UK.
The Establishment of a European Blockchain Partnership is the consequent result of the events of the last few months. In November 2017 the EU conducted a massive study on creating an EU-wide blockchain infrastructure. Two months later – in February 2018 – the countries turned the words into actions. The EU Blockchain Observatory and Forum has already invested about €80 million. The plans of the newly created European Blockchain Partnership are even more impressive: during the next few years the Partnership is expected to invest €300 million into perspective blockchain projects.
The European Blockchain Partnership has started its work in a promising way: it has already funded two projects. One of them is MHMD which works in the sphere of e-health. The acronym stands for My Health My Data – which perfectly describes the ledger platform for medical data. The other direction that got funded by the Partnership is the security of personal data. It is represented by the DECODE project aimed at improving the security of owning and managing data.
The future of the crypto sphere becomes more and more clear. It had its ups and downs but the thing that happens now is bringing the whole sphere to the next level. The support of individual countries is important, but the global invasion requires influential followers all over the world. 22 countries of the European Union have just proved their belief in the future of blockchain – and all the interested members of the EU and of the European Economic Area can join the European Blockchain Partnership.