The Commission launched the EU Blockchain Observatory and Forum with the support of the European Parliament. The observatory will highlight key developments of the blockchain technology, promote European actors and reinforce European engagement with multiple stakeholders involved in blockchain activities. ConsenSys, a global player now well established in Europe, has been selected as a partner to support the observatory’s outreach in Europe following a call for tenders launched last year.
Blockchain technologies are expected to impact digital services and transform business models in a wide range of areas, such as healthcare, insurance, finance, energy, logistics, intellectual property rights management or government services. The observatory will be gathering information, monitoring and analyzing trends, addressing challenges and exploring blockchains’ socioeconomic potential. It will enable cross border cooperation on practical use cases, bringing Europe’s best experts together and promoting an open forum for blockchain technologists, innovators, citizens, industry stakeholders, public authorities, regulators and supervisors, to discuss and develop new ideas in order to learn, engage and contribute in an open way.
The European Commission has been funding blockchain projects through the European Union’s research programmes FP7 and Horizon 2020since 2013. Up to 2020, it will fund projects that could draw on blockchain technologies for up to €340 million. Major players from traditional sectors, like banks, insurances, stock exchanges, logistics or companies are engaged in pilot projects. Many member states have announced initiatives as they seek to reinforce their use of blockchain technology.