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Tuesday, May 18, 2021
Home News European Commission Working on Blockchain - Plans Actively Seeking Pilot Partners

European Commission Working on Blockchain – Plans Actively Seeking Pilot Partners

The European Commission is “…actively monitoring Blockchain and DLT developments” and is working on exploring “DLT benefits and challenges as well as fields for application in financial services”.

The official statement explains that the Commission is ready to move hard and fast to explore the technology.

“Distributed ledger technology’s (DLT) almost limitless list of potential use cases makes it both very promising and challenging. Beyond financial services applications, which are being explored by banks and financial institutions, many other sectors are piloting with the technology.

The Commission is actively monitoring Blockchain and DLT developments. Following the Honourable Member of the European Parliament’s Von Weizsäcker’s report on Virtual Currencies, the Commission set up a FinTech Task Force. A work stream is dedicated to explore DLT benefits and challenges as well as fields for application in financial services.

Beyond financial services, the Commission services are actively reflecting on possible pilot projects to foster decentralised innovation ecosystems and help reshape interactions between consumers, producers, creators and among citizens, businesses and administrations to the end benefit of society.

The Commission is already supporting DLT-enabled projects (DECODE, D-Cent, MyHealth MyData). Support activities are going to increase in the coming months (e.g. Decentralised Data Management). A study will be launched to investigate how DLT can help in reshaping public services and preparing for EU specific DLT actions to address relevant EU challenges.

The Commission will organise a kick-off conference with the European Parliament on Demystifying Blockchain and a series of workshops to look at Blockchain developments and use case applications.

As part of the START-UP AND SCALE-UP INITIATIVE,  the Commission will investigate how to develop experimentation frameworks enabling innovation. DLT can be considered as offering innovative solutions to existing and emerging challenges.”

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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