European Union Commits 250k Euro To Studying Blockchain Technology


November 13, 2017 6:54 PM

The European Commission has blockchain technology in its sights with a recently authorized study.

Reported on November 13, 2017, the European Commission will engage in a study of blockchain technology, setting aside 250,000 euro to test the conventionality of an EU Blockchain Infrastructure.

According to the report, the commission will research the application of blockchain-based systems towards advancing its goal of creating an “open, innovative, trustworthy, transparent, and EU law compliant and transactional environment.” The European Commission will determine the best manner to make use of the technology taking into account factors of timing and policy. It will also develop an infrastructure that will support blockchain-powered services. In this way the commission hopes to maintain a global competitive edge.

Information gathered from the study will be applied by the European Commission as it seeks to implement a blockchain-based infrastructure. In addition the study will provide insight to the commission on where blockchain technology is best suited for integration.

The European Commission’s latest endeavor in blockchain technology represents another step in its ongoing mission to generate public policies that engage members of the private sector with regulators, fostering the development of an ecosystem for applications.

Calls for tenders for organizations who wish to apply to participate in the study will be open until January 19, 2018.

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest European Union, EU or other Ethereum ecosystem news.

Comments

comments

What's Your Reaction?

Angry Angry
0
Angry
Cute Cute
0
Cute
Fail Fail
0
Fail
Geeky Geeky
0
Geeky
Lol Lol
0
Lol
Love Love
0
Love
OMG OMG
0
OMG
Win Win
0
Win
WTF WTF
0
WTF

European Union Commits 250k Euro To Studying Blockchain Technology

log in

reset password

Back to
log in
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF