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.”
- Enjin Platform Enables Game Developers to Integrate Blockchain Assets Without Blockchain Coding Experience - February 18, 2020
- Blockchain Project Cashaa Protecting Crypto Companies to Survive Fifth Money Laundering Directive and New FCA Rules in 2020 - February 8, 2020
- US SEC Boss Hester Peirce Suggests Three Year “Safe Harbour Period” For Token Sales - February 6, 2020
- China’s Hyperchain Plans to Take on Coronavirus With Blockchain-Fueled Donation Platform - February 6, 2020
- Blockstack Proposes Using Bitcoin, Novel ‘Proof of Transfer’ To Accelerate A Truly User-Owned Web 3.0 - February 6, 2020
- Hack Blockchain To The MAX! €15.000 Prizepool at MAXathon in Berlin April 18-19, 2020 - February 6, 2020
- Chiliz And Enjin To Launch Blockchain Collectibles Using NFTs For The Likes of Juventus, Paris Saint-Germain, Atlético de Madrid and West Ham - February 6, 2020
- MIT Researchers Claim to Boost Bitcoin and Cryptocurrency Blockchain Transactions By 4x with New ‘Spider’ Routing Scheme - February 4, 2020
- Canada’s Blockchain Intelligence Group Signs USD$540,000 Contract with United States Feds - February 4, 2020
- The United States Marshals Services to Auction 4,040.54069820 Bitcoin – USD$37 Million - February 4, 2020
- OpenLegacy Project Gets $20m Strategic Investment from Japan’s SBI Holdings – Focus on Blockchain - February 4, 2020
- Fastest Growing and Highest Revenue Mobile Messenger App in the World, Japan’s LINE to Launch LINK Cryptocurrency - February 3, 2020
- Insolar to Launch MainNet on February 3, 2020 – Debuts Insolar’s New XNS Token - February 3, 2020
- Blockchain-Based Social Media App Vid with VI Tokens – To Launch April 1, 2020 – After VC $10 million USD Investment in 2019 - February 3, 2020
- UK FCA Licenses BCB Group as First Crypto Company to be Regulated as Authorised Payment Institution - January 31, 2020
- Virgil Griffith Pleads Innocent in Blockchain North Korea Event Case – Faces Up To 20 Years in Prison if Convicted - January 31, 2020
- University College London Centre for Blockchain Technologies Releases New Report on Supply Chains - January 31, 2020
- World’s Leading Research and Advisory Company Gartner Says Blockchain Smart Contracts Can Increase Corporate Overall Data Quality by 50 Percent - January 31, 2020
- Dubai Wants to Clone Crypto Valley in the Desert - January 29, 2020
- The National Bank of Cambodia (NBC) to Launch Blockchain-Based, Central Bank Digital Currency (CBDC) - January 29, 2020