The European Commission (EC) is launching a new blockchain research project focused on non-financial applications of the technology.
Called "#Blockchain4EU: Blockchain for Industrial Transformations", the effort will run from now until February 2018 under the direction of two EC bodies: the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs and the Joint Research Centre.
According to the Commission, which is the executive arm of the EU, #Blockchain4EU will "explore future socio-technical scenarios of production, distribution and use", looking at benefits and risks through the lens of small and medium-sized businesses.
The Joint Research Centre is said to combine behavioral analysis and forecasting design into its desk-and-field research process, bringing together contributions from developers, social and economic scientists, entrepreneurs, labor representatives, lawyers and policymakers from local, national and EU-level jurisdictions.
European Commission headquarters image via IDN/Shutterstock
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