The partnership will be a vehicle for cooperation amongst member states to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide blockchain applications.
The declaration highlighted how blockchain will work with other next-generation technologies to create a more digitally friendly and capable Europe.
This sentiment was emphasized by EC Vice-President Andrus Ansip. In his opening keynote, he addressed Europe's path forward: "The European tech sector identifies AI and blockchain as the areas where Europe is best positioned to play a leading role. However, it is no secret that we have to invest – both politically and financially."
Since its launch of the EU Blockchain Observatory and Forum in February of this year, the European Commission has already poured 80 million euro into blockchain projects supporting both technological and societal advancement.
The Commission plans on spending an additional 300 million euro for blockchain advancement over the next few years. Members of the EU and of the European Economic Area that have not signed, such as Hungary, are invited to join the European Blockchain Partnership.
By Ksenia Batanova