Europe's Executive Arm Launches New Blockchain Study Group

The European Commission is launching a new blockchain research project focused on non-financial applications of the tech.

AccessTimeIconJun 13, 2017 at 11:31 a.m. UTC
Updated Sep 11, 2021 at 1:26 p.m. UTC

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.

The goal, according to a recent blog post announcing the project, is to "identify, discuss and communicate" areas in which the existing and emerging applications of blockchain and DLT can transform EU industrial businesses, effectively acting like a kind of study group.

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.

The news comes almost two months after the EC announced a €500k budget for a wider pilot project to improve its institutional knowledge of blockchain. The commission further said in February that it aims to expand its support for trials involving the technology.

European Commission headquarters image via IDN/Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.