European Blockchain Partnership Confirms Britain's Belief In EU Partners

European Commission cautious on elections in Hungary

Blockchain has been hailed as the future of technology by many experts and government officials, and the European Commission's vice president, Andrus Ansip, is the latest to voice his support for the technology. The one-day event was held in collaboration with the Bulgarian Presidency of the Council of the EU and aimed to lay the basis for the European digital future with a focus on innovative technologies like blockchain, artificial intelligence (AI), and eHealth.

In the United Kingdom, we are constantly faced with news of Brexit and the pressures of the European Union referendum, to be honest, it is rare that we hear of any positive movements within negotiations and deals, this one however stands out as something both important and progressive.

Twenty-two EU member states signed a declaration to establish a European blockchain Partnership according to the European Commission website.

The Commission said this was expected to unlock €6.5bn of new investment in innovative start-up and scale-up companies across Europe, doubling the amount of venture capital now available on the continent. The EU Blockchain Observatory & Forum was initiated in February 2018 to accelerate the implementation of distributed ledger technology (DLT) across Europe.

Vanuatu denies Chinese approach to set up military base
In 2016, Russian Federation was seen to be looking for a foothold in the Pacific when it gave $19m in weaponry to Fiji. The Djibouti base features a port, helicopter base, hangars and accommodation for up to 10,000 troops.

The EC said that close cooperation between member states would help in avoiding fragmented approaches and ensure interoperability and wider deployment of blockchain-based services. The afternoon session was dedicated to the Blockchain Partnership Initiative.

The European Commission believes that the decentralised and collaborative nature of blockchain and its applications will allow member states to exploit the "full scale of the Digital Single Market from the outset". It plans to allocate around Euro 300 million more to blockchain by 2020.

Gabriel said, "The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens".

The conference also highlighted the major progress made towards a Digital Single Market such as the end of roaming charges, the portability of online content, stronger rules on the protection of personal data and the first EU-wide rules on cybersecurity, which will become a reality in May 2018. At the same time, the continent's startup ecosystem has been surging thanks to big investments by the European Union, which is counting on entrepreneurs to give the region an economic boost. In addition, £12bn under the European Structural and Investment Funds is being invested in digital technologies.

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