Greece and Cyprus join major european blockchain cooperation
After months of monitoring and observing the “promising and challenging” potential of distributed ledger technology (DLT), the European Union (EU) is finally making a turn into the blockchain industry.
Back in February 2018, the European Commission (EC) launched the EU Blockchain Observatory and Forum, aimed to support European cross-border engagement with the technology and its multiple stakeholders and to unite the economy around blockchain.
Since its official launch, the newly established organization — supported by European Parliament — has released three thematic reports: the first one in July, dubbed “Blockchain Innovation in Europe”; the second one in October, “Blockchain and the GDPR”; and the third one in December, “Blockchain for Government and Public Services.”
The second major step was taken in April when 22 countries — 21 EU member states and Norway — signed a Declaration that created a European Blockchain Partnership (EBP).
During 2018, five more European countries joined the EBP: Greece and Romania in May, Denmark and Cyprus in June, and Italy — the last member to join — in September. The partnership’s main focus is on cybersecurity, privacy, energy efficiency and interoperability, all in full compliance with EU law.