EU Launches Blockchain Observatory With Ethereum Startup
A singular focus on Ethereum
The EU Commission’s announcement specifically focused on its desire to mobilize the blockchain for the benefit of the single European market and stated that its primary objective for the Observatory and Forum was to try to build on existing projects to make sure they could all work across the 27 Countries of the EU specifically, but also be used on a much wider basis going forwards. A spokesman the the Authority commented that there was an urgent need to establish the right enabling environment and to establish a Digital Single Market for blockchain within the EU so that all of its citizens could benefit, instead of having a fragmented patchwork of initiatives from other member states which he considered would only lead to more confusion and be very difficult to monitor and manage effectively.
While different countries have a different opinion on cryptocurrencies, the one thing that has united most nations is the fact that almost every country has been quite open about adopting the blockchain technology. The European Union is trying to embrace this technology and has already set up an EU Blockchain Observatory and Forum. This setup will help promote European blockchain technologies, and is aimed at uniting the blockchain economy! Whether this will be the case we do not know at this stage, but it is something which the EU Authorities want to do.
The EU Observatory and Forum has teamed up with an Ethereum-powered startup, ConsenSys. This company was selected after the European Commission issued a call for tender last year.
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