European Countries Join New Blockchain Project

European countries join in new blockchain project

A group of 22 European countries have formed a new blockchain project, which will see them work together to share information and develop blockchain technologies.

Known as the European Blockchain Partnership, the group was pioneered by the European Commission in order to bring together European partners in a bid to share technologies and develop their mutual understanding of blockchain.

The U.K., Norway, France, the Netherlands, Germany and Spain are all signatories to the partnership, which aims to prevent “fragmented approaches” to blockchain development across the continent.

The project will also look to promote blockchain within the Digital Single Market, specifically tasked with increasing adoption of blockchain systems and standards across each territory.

The European Commissioner for Digital Economy and Society, Mariya Gabriel, said that the technology would be central to public governance in the future, and described how a better understanding of blockchain would ultimately lead to better public administration.

“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 project allows for cooperation between members, as well as the establishment of standards for interoperability, designed to streamline implementations of different blockchain applications throughout member jurisdictions.

The news is the latest step toward developing blockchain technology headed by the EU, following on from a series of similar projects and development efforts.

Earlier this year, the EU unveiled its Blockchain Observatory and Forum to foster new ideas and applications, with the European Commission then announcing a fintech lab to support blockchain development just a few weeks later.

The EU also already funds several other blockchain initiatives, including DCODE, a blockchain looking specifically at privacy, and MHDMD, which focuses on ehealth.

With the news of 22 European nations joining forces in the European Blockchain Partnership, the European Union has helped pioneer another new front in the development of blockchain technologies.

Other signatories to the agreement are Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, Ireland, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Slovakia, Slovenia, and Sweden.