European Union Invested 5 Million Euros in Blockchain Start-ups

The European Union has invested 5 Million Euro in start-ups working on various projects, including Blockchain.

According to the report, six research and development applications related to this technology have been supported by the Horizon 2020 initiative.

Last week, the European Commission’s SMEs Group  three of these start-ups (Signaturit described the work done by Authenteq and The Billion Group) as “improving services on digital identity and payments.”

Horizon 2020 data shows that the EU contributed €5,471,131 to this group of start-ups. Three of the group received over €1M each, while the other three only received €50K.

The initiative is the political union’s blockchain became one of the focal points of his work. Last month, the European Commission announced that it plans to hold a “Blockchain for Social Goods” competition that will work with Horizon 2020. In addition, European researchers studied this program to find capital for cryptocurrency-related projects.

Large this year, the European Commission launched the Blockchain Observatory, which it laid the foundation for. It started to become a research and development office of technology.

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