There are several countries around the globe that have been investing in tests and trails of the revolutionary blockchain technology. The countries comprising the European Union (EU) are also in that list. And after several months of trials, observation and monitoring the promising and challenging potential of the distributed ledger technology (DLT), it seems that the EU has finally reached a unanimous decision regarding it, and they are setting their sails towards the blockchain industry.Back to the Start
Europe’s involvement with the blockchain technology goes back to earlier this year in February, when the European Commission (EC) launched the EU Blockchain Observatory and Forum. The main purpose of which was to support European cross-border engagement with the technology itself as well as it’s several stakeholders, all the while uniting the economy around blockchain. Since its launch, the forum has released a total of three thematic reports, which are,Blockchain Innovation in Europe Blockchain and the GDPR Blockchain for Government and Public Sectors
Following this, the forum took the next major step later in April, when 22 countries signed a Declaration that created a European Blockchain Partnership (EBP). 21 of those countries were EU members and the one outsider was Norway. Later, however, the initial number from 22 raised to 27, as five more European countries joined the EBP; Greece, Romania, Denmark, Cyprus and Italy. The fundamental aim of this partnership was in the areas of cybersecurity, privacy, energy efficiency and interoperability.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 (sic)
Said, Mariya Gabriel, commissioner for the Digital Economy and Society.