The European Union’s executive branch is establishing an "observatory" focused on blockchain as part of a wider pilot project.
Unveiled earlier this week, the initiative, according to the European Commission, seeks to to "gather opinions and to voice concerns around Blockchain and DLT". The Commission plans to solicit proposals from possible partners during the second quarter of this year.
Late last month, the Commission revealed that it would seek to improve its institutional knowledge through the pilot, operating in tandem with a task force created by the European Parliament last year.
The announcement includes some new details about the pilot, including its two-year duration and its €500k budget. And while the scope of the project centers primarily on education, there do appear to be some practical elements, including a plan to "build and animate a platform for the European blockchain community".
Ultimately, the pilot could lead to new policies in the EU centered around blockchain.
As the Commission explained:
"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 up-take of these technologies and to formulate related policy recommendations."
Whether any of the tests translate into actual applications of the tech by the Commission remains to be seen.
However, according to the announcement, the body said it wants "explore possible use cases with a value added at EU level" – indicating that such approaches are possible.
EU image via Shutterstock
blockchain pilotEuropean Union
Gibraltar Will Take Market-Driven Approach to ICO Rules
Gibraltar may be moving to regulate initial coin offerings (ICOs), but officials say it will be up to the market to determine what a "good" token sale looks like.
The U.K. overseas territory announ
Venezuela Claims $735 Million Raised in First Cryptocurrency Sale
Venezuelan president Nicolas Maduro is claiming that the country has raised $735 million in the first day of a sale for its controversial "petro" cryptocurrency.
Announced late Tuesday night, Madur
500 Startups, Huobi Labs to Incubate Blockchain Projects
500 Startups, the Silicon Valley startup accelerator, announced today that it is partnering with cryptocurrency exchange Huobi's incubator wing, Huobi Labs.
The two companies will support startups
Tesla's Cloud Hit By Crypto Mining Malware Attack
Electric vehicle maker Tesla has reportedly fallen victim to a cryptocurrency mining malware attack.
On Tuesday, cybersecurity software firm RedLock reported that hackers had exploited an insecure
Petro Debut: What We Learned About Venezuela's Cryptocurrency Today
The government of Venezuela published several guides Tuesday in support of the presale for its "petro" cryptocurrency.
Announcing the oil-backed token as a form of legal tender that can be used to
US Securities Regulator Rejects BitConnect Records Request
The U.S. Securities and Exchange Commission (SEC) has denied a Freedom of Information Request (FOIA) regarding the BitConnect cryptocurrency investment scheme, citing an exemption usually applied to r
Dutch Bank ING Says Crypto Exchange Bitfinex Is An Account Holder
ING Groep NV confirmed Tuesday that cryptocurrency exchange Bitfinex has an account with the Dutch bank.
According to Bloomberg News and Reuters, a spokesperson for the financial services company a
Report: Japanese Crypto Exchanges Unite to Form Self-Regulatory Group
A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack.
According to Reuters, which cites unnamed sources clo