A European Commission vice-president has called on EU nations to commit to blockchain technology which he says is moving out of the lab and going mainstream.
In a speech centered on digitization, a vice president of the European Commission – the executive arm of the European Union – pinpointed blockchain technology as an area that EU nations ought to be committing to. EC vice-president Andrus Ansip underlined blockchain technology among “the areas where Europe is best positioned to play a leading role” alongside artificial intelligence (AI).
To this end, the EC official called on national governments and private sectors to contribute to the cause, stating the EU’s own “public purse only goes so far”, representing roughly 1% of the annual wealth generated by EU economies. “[W]e need hard cash,” he added, bluntly.