Andrus Ansip Wants Europe To Be World Leader In Blockchain Development

European Commission Vice-President Urges Europe Play ‘Leading Role’ In Blockchain Dev

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  • Andrus Ansip wants EU to be the world leader in blockchain tech.
  • He called on the government for financial and political support.

Europe: During the Europe Commission’s Digital Day 2018, which held on Tuesday 10th April in Brussels, the VP of the Commission, Andrus Ansip, gave a speech in which he urged the Europe Union (EU) to become the leading role in digital innovation by adopting the Blockchain technology, along with Artificial Intelligence (AI).

At the event, Andrus quoting Atomico – a British international technology investment company, claimed that Europe is “home to the world’s leading AI research community,” while the European technology sector claimed that Europe is “best positioned to play a leading role” in Blockchain as well.

Andrus Ansip pointed out the importance of becoming the world leader in digital technology and called on the European Commission to give full support to the European technology sector “both politically and financially.” Andrus emphasized that the European Union governments should support the Blockchain tech sector, which is already fast-growing and “moving out of the lab and going mainstream.” He urged the government to consider:

“AI and blockchain as the areas where Europe is best positioned to play a leading role. However, it is no secret that we have to invest – both politically and financially. There is quite some ground to catch up. Other continents are moving ahead quickly.”

Andrus stressed the need for financial support from European Union governments, he said that technological dev requires the right conditions and infrastructures, and that “none of these comes for free.”

Andrus Ansip declared bluntly:

“For the Digital Single Market to work for people and business, to advance on our digital priorities, to make sure that Europe is a world digital leader: we need hard cash.”

Before now, the European Commission had in February made an announcement of the launching of the European Union Blockchain Observatory and Forum that aims at applying Distributed Ledger Technology (DLT), of which Blockchain is one kind, to the bloc’s economy. In March the commission stated its intentions to launch a joint regulatory framework on Fintech, which will include crowdfunding and Blockchain technology standards.

Blockchain Tech backs cryptocurrencies, and as long as the blockchain tech is adopted by nations, cryptocurrency will continue existing.

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