EU to introduce blockchain infrastructure to improve record keeping and data transfer between member states

Odaily News On Tuesday, the European Union launched a new organization aimed at introducing blockchain infrastructure and improving record keeping and data transfer between the bloc's 27 member states. This took place during a meeting of European Council telecommunications ministers in Brussels, where lawmakers also approved the EU's landmark artificial intelligence law. Mathieu Michel, Belgium's secretary of state for digitalization, said the blockchain infrastructure will affect individuals and companies. Michel has promoted the blockchain project, which is managed by EU countries and calls it Europeum. "Europeum will be tangible in the daily lives of European citizens," he said at a press conference. He said it would allow citizens to trace the origin of their products and enable businesses to protect their intellectual property by maintaining data on an immutable blockchain network. Ten European member states, including Italy, Poland and Greece, have agreed to help operate and launch the EU blockchain. Other European countries will still be able to use this blockchain infrastructure. Michel added that more countries are expected to join. Germany and France have not yet committed to the arrangement, but the latter has been supporting the project. According to him, the project has been under construction since 2017, and developers and companies have created a prototype that is now operational. (DL News)