Blockchain on the Agenda at EU Commission’s “Digital Day”

Blockchain, Law and Regulation, News

The EU commission is bringing together ministers and representatives from EU countries with industry leaders, academics, and civil society representatives to encourage cooperation that will strengthen the “digital single market,” and blockchain technology is on the agenda.

Digital day

Today, the EU is repeating a meeting held in Rome last year that was dubbed “digital day”. Discussions focus on how technological innovation will shape the future of Europe and how EU members can cooperate to build a strong digital single market by increasing investment and improving the EU’s digital skills.

A press release published by the European Commission cites the success of last year’s event in eradicating roaming charges and making the “portability of online content a reality for Europeans”. There is also a mention of how the commission is taking steps to ensure the cybersecurity of EU citizens with its GDPR (General Data Protection Regulation) regulations that come into effect in May.

Blockchain on the agenda

Discussions will focus on different sectors of the digital world including artificial intelligence, eHealth, a new online tool that help innovators get their products to market and, most interestingly, blockchain technology.

Europe has been taking a largely pragmatic approach towards DLT. It recently launched the EU Blockchain Observatory and Forum and is planning to invest €300 million in projects that support the use of blockchain technology, which is exciting news for crypto enthusiasts in the region and beyond.

“In order to harness the many opportunities of blockchain and avoid a fragmented approach, tomorrow the Commission will lay the groundwork for establishing a European Blockchain Partnership to promote interoperable infrastructures that will enhance trusted digital services.” EU Commission press release.

It seems clear that the EU’s approach seeks to offer much-needed clarity to the blockchain sector by creating an infrastructure that allows wider adoption of the technology. This could clear the path towards its future development and adoption in the region, though it is still early. A declaration is expected later today that should provide more insight into the future of blockchain technology in the region.

Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.

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