Mediaboss Marketing

The EUs European Parliament has recently mandated the European Commission to implement a pilot project in order to build up technical expertise and regulatory capacity for blockchain technology. The European Commission in response announced that it intends to launch a call for tender for a service contract to set up an EU Blockchain Observatory, withanestimated budget of 500,000 over a period of 2 years.

The London Summit 2017 is coming, get involved!

The EC wants the new body toconsist of both an observatory and a forum to gather opinions and to voice concerns around blockchain and distributed ledger technologies (DLT). It will have the goal ofbecoming an EU expertise hub to discuss forward-looking topics on blockchain and develop use cases of interest at EU level.

The purpose will be to inform and assist the European Commission in understanding what role if any European public authorities should play to encourage the development and adoptionof these technologies and to formulate related policy recommendations.

The observatory is expected to provide an up to date overview of relevant initiatives relying on the technology around the world and to follow up closely on the developments and the related challenges and opportunities for European industry, citizens and governments.

It will also develop expertise on topics such as infrastructure, governance and validation mechanisms, smart contracts, regulatory and legal challenges, interoperability and standards, build and animate a platform for the European blockchain community and explore possible use cases with a value added at the EU level.

Read more from the original source:
European Union to Invest 500000 to Develop Blockchain Expertise - Finance Magnates