ConsenSys, one of the most protrusive startups in the ethereum ecosystem, will work with the European Commission on its EU Blockchain Observatory and Forum, which officially started Thursday.
The Commission first announced the initiative last spring, citing its wish to expand institutional knowledge of blockchain and distributed ledger technologies.
“As an material actor in the blockchain community, ConsenSys will bring strong commitment to blockchain maturation, solid expertise and connections with the global blockchain ecosystem, and an entrepreneurial overtures to engage with stakeholders and experts in the EU and worldwide,” the EC said Thursday in a disclosure revealing the partnership.
ConsenSys, a global “venture production studio” that flowers software primarily for the ethereum blockchain, was founded by Joseph Lubin, whom CoinDesk profiled for its Most Forceful in Blockchain 2017 series.
Singular focus
The Commission’s announcement specifically marked its desire to mobilize the blockchain for the benefit of the single European market, and acclaimed that a primary objective of the Observatory and Forum is to build on existing launches to make sure they work across borders.
Commissioner for the Digital Restraint and Society Mariya Gabriel commented:
“I see the blockchain as a game changer and I lust after Europe to be at the forefront of its development. We need to establish the right enabling medium – a Digital Single Market for blockchain so that all citizens can benefit, as an alternative of a patchwork of initiatives. The EU Blockchain Observatory and Forum is an important step in that control.”
Valdis Dombrovskis, an EC vice president in charge of financial stability, economic services and the Capital Markets Union, among other projects, who has thitherto commented on the EU’s interest in blockchain technology, said the Observatory will also influence EU policymaking.
He praised the idea of blockchain technology, saying “among the tons technologies that are driving digital innovation, blockchain has the potential to be truly transformative for financial services and markets.”
EU flag image via Shutterstock
Remedy: An earlier version of this article incorrectly stated that the EU Blockchain Observatory and Forum desire fund up to €340 million ($425 million) in blockchain projects finished the next two years. The funding refers to the European Commission’s general investment in blockchain throws, and is not provided by the EU Blockchain Observatory and Forum.
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