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European Government declares $30 billion as blockchain beneficiary

Recently, the European Government has announced $30 billion on new investments in blockchain technology.

The initiative, the funding would come via the Horizon 2020, which to date has been supports by $77 billion in public funding.

According to a statement from Oct.27,

“The goal is to support new investments in the areas of “migration, security, climate, clean energy and digital economy”, as well as “breakthrough, market-creating breakthrough[s]. Clean energy is poise to be a major area of focus, with €3.3 billion expects to commit between 2018 and 2020”.

Reportedly, the Horizon program has been the source of as much as $5 million in financial support. Certainly, the EU government supports for declaring funds to blockchain research. Since it includes a database of public company data project develops on the tech.

Also Read: Civil Journalism declares $5mln in funding from blockchain technology

Meanwhile, it’s unclear about how exactly the funds will be spent in relation to the blockchain. Particularly, for the commission highlights blockchain’s role in the statement.

Carlos Moedas, commissioner for research, science, and innovation said,

“Artificial intelligence, genetics, blockchain: science is at the core of today’s most promising breakthrough innovations. Europe is a world leader in science and technology and will play a major role in driving innovation”.

Read Next: Slovenia wants to be EU’s destination for Blockchain technology

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Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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