Blockchain observatory is launched in the EU

Blockchain observatory is launched in the EU

One of the most outstanding projects in the ethereum universe, ConsenSys is going to cooperate with the European Commission on its ambitious EU Blockchain Observatory officially started on Thursday.

The two-year startup is on the verge of funding up to €340 million in promising blockchain projects. The initiative was first announced by the Commission the previous spring, emphasizing its desire to enrish institutional knowledge of blockchain as well as ledger technologies. 

As a crucial factor in the blockchain world, ConsenSys is going to bring firm commitment to the development of blockchain, substantial expertise as well as contacts with the world’s blockchain ecosystem, not to mention a business approach to engage with true experts and stakeholers in the European Union and the entire world.

A venture production studio, ConsenSys specializing in developing software tools mostly for the ethereum blockchain, emerged thanks to Joseph Lubin.

The Commission's report specifically gave emphasis to its willingness to mobilize the blockchain just to flood the single European market with benefits. It also noted that the number one goal of the Observatory is to create using currently existing projects to ensure integration across borders.

Reputable market experts consider blockchain to be today’s actual game changer. As Mariya Gabriel from the Digital Economy and Society told he wants Europe to keep up with the recent advancements in this digital technology. He added that built around blockchain the digital single market will enable citizens to enjoy fantastic benefits, and the Observatory is a crucial step on the way to digital flexibility and efficiency.    

An EC vice president, Valdis Dombrovskis stressed that the project is braced for guiding EU up-to-date policymaking. 

He generally appreciated the very idea of blockchain, telling that among numerous solutions driving digital innovation, this one has the enormous potential to be 100% transformative for markets and financial services.



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