EU Makes A Strategic Move Towards Blockchain and AI Convergence

The European Union (EU) has decided to integrate blockchain and artificial intelligence (AI) in a pivotal moment in the EU’s digital transformation strategy. 

A recent report by the European Union Blockchain Observatory and Forum (EUBOF) sheds light on the EU’s intent to “deepen cooperation on blockchain and Web3 technologies” through EUROPEUM-EDIC – a new legal entity established by a consortium of nine member states.

According to the report, “The EUROPEUM-EDIC will support cross-border cooperation between public authorities on Web3 and decentralised technologies, promoting innovation and interoperability of such solutions with other technologies.”

The nine member states, including- Belgium, Croatia, Cyprus, Greece, Italy, Luxembourg, Portugal, Romania, and Slovenia – will further deploy and expand the exploitation of the European Blockchain Services Infrastructure (EBSI) to deliver EU-wide cross-border services, in particular public services.

According to EU’s report, Poland has also officially asked to join the EUROPEUM EDIC, and other Member States are expected to express interest. 

EU’s Plan To Secure Position Of Global Leader In Tech Innovation

The EU’s interest in fostering the development of blockchain and AI is part of a broader digital strategy aimed at securing its position as a global leader in technological innovation. 

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Lately in Blockchain: A Global Perspective on Recent Developments

”The EU’s efforts to merge blockchain with AI signaling towards a transformative future for various sectors, while Latin America’s shift to cryptocurrencies even in some… pic.twitter.com/AMXwQqKabM

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The EUBOF report is a clear indication of the EU’s proactive approach in exploring the synergies between these technologies. 

By investing in research and development and creating a favorable regulatory environment, the EU aims to unlock the full potential of blockchain and AI convergence.

One of the key takeaways from the report is the emphasis on ethical considerations and the need for a human-centric approach.

The EUBOF report is a significant milestone in the EU’s journey towards embracing the future of technology. It not only outlines the potential of blockchain and AI convergence but also sets the stage for further exploration and development in this field. 

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