Although the crypto markets still haven’t regained their positions they occupied last year, it doesn’t seem to worry governments and corporations, as they are looking for ways to utilize blockchain technology which is the basis of all cryptocurrencies. European Union is on the forefront of the blockchain adoption, as demonstrated by the establishment of European Blockchain Partnership.
22 countries joined the project on April 10, which aim is to create “a vehicle for cooperation amongst Member States to exchange experience and expertise in technical and regulatory fields and prepare for the launch of EU-wide blockchain applications across the Digital Single Market for the benefit of the public and private sectors.”
Mariya Gabriel, Commissioner for Digital Economy and Society, expressed her confidence in the future of blockchain technology:
“In the future, all public services will use blockchain technology. 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.”
Moreover, the EU has already granted 80 million euro to various blockchain enterprises aimed at social and technological development and 300 million euro more are going to be spent in the next couple of years.