Blockchain
Say hello to Europeum. The EU’s blockchain project will affect ‘the daily lives’ of citizens, officials vow
On Tuesday, the European Union established a new organization aimed at introducing blockchain infrastructure to revamp record-keeping and data transfer among the bloc’s 27 member states. This initiative is part of Europe’s effort to reduce dependence on US technology.
Key Launch Details
The announcement was made during a meeting of telecommunications ministers at the European Council in Brussels, where lawmakers also approved the EU’s landmark law on artificial intelligence. Mathieu Michel, Belgium’s state secretary for digitalization, has been a key advocate for the blockchain project, which he has named Europeum.
Impact on Citizens and Businesses
Michel emphasized that Europeum will significantly impact both individuals and businesses across Europe. “Europeum will have a tangible presence in the daily lives of European citizens,” he stated during a press conference. The blockchain infrastructure will allow citizens to trace the origins of products and enable businesses to protect their intellectual property by maintaining data on immutable blockchain networks.
Participation and Support
Ten European member states, including Italy, Poland, and Greece, have committed to helping operate and roll out the EU blockchain. Other European countries will also be able to use the blockchain infrastructure, with more nations expected to join. While Germany and France have not officially committed, France has shown support for the project.
Sovereignty and Digital Independence
Michel highlighted the importance of creating a sovereign infrastructure, rather than relying on services like Amazon Web Services. Europeum aims to record digital identities, wallets, credentials, and licenses, and Michel hopes it will translate legal and bureaucratic processes into efficiently automated smart contracts. The blockchain will also support metaverse applications and the European Central Bank’s digital euro.
Development and Implementation
The blockchain infrastructure has been under construction since 2017, under the European Blockchain and Services Infrastructure. Developers and companies have created a prototype that is already functional. The European Commission, however, lacks the legal basis to operate a blockchain for European citizens, which is why the project has been in pilot mode.
European Digital Infrastructure Consortium
To move forward, the project has been transformed into the European Digital Infrastructure Consortium, a multinational initiative supported by the European Commission. This consortium is part of Europe’s Digital Decade Policy Programme 2030, which has €165 billion to support its objectives.
Future Prospects
Michel underscored the importance of data security in cross-border exchanges. “People don’t need to be happy that Europeum exists,” he said. “They just need to know that if the data is exchanged between nations, administration, or companies, it is safe to use.”
The launch of Europeum represents a significant step towards enhancing Europe’s technological sovereignty, aiming to provide a secure, interoperable, and efficient digital infrastructure for its 450 million inhabitants.
Source: dlnews.com
The post Say hello to Europeum. The EU’s blockchain project will affect ‘the daily lives’ of citizens, officials vow appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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