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Blockchain

Say hello to Europeum. The EU’s blockchain project will affect ‘the daily lives’ of citizens, officials vow

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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.

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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

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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