Blockchain Is 'Going Mainstream' Says European Commission Official

An executive from the institution tasked with overseeing European regulation is offering new praise for blockchain technology.

In a speech Tuesday, European Commission vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of "The areas where Europe is best positioned to play a leading role," with the caveat that the continent needs to invest much more in its technology sector.

During his opening remarks issued at the EC's Digital Day 2018 in Brussels, he further asked the EU to "Commit to Europe's digital and data-based future."

Ansip mentioned the EU's investment in blockchain, as well as in artificial intelligence and digital healthcare, the conference's other focus areas, and he made it clear that he believe the EU cannot provide sufficient funding on its own.

Ansip's remarks come two months after the EC took a larger role in encouraging blockchain research.

In February, the commission launched the EU Blockchain Observatory and Forum in partnership with the ethereum startup ConsenSys, an effort it said Monday would invest €300 million in blockchain-related projects.

Further, the EC announced that it will form a European Blockchain Partnership to "Promote interoperable infrastructures," though no further details are available at this time.

More broadly, Ansip positioned the EU's investments in blockchain and other emerging technologies in the context of the Digital Single Market, with the goal of extending the EU's uniform regulatory structure to the technology sector.

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