Over 20 European countries have jointly established a new blockchain group to share technical and regulatory expertise.
European Commission vice president Andrus Ansip stressed the need for governments and private firms to invest in blockchain technology.
The European Commission said it will host a Fintech Lab to foster emerging technologies including blockchain starting from Q2 2018.
EC vice president Valdis Dombrovskis recommended warning consumers looking into how regulations apply to cryptocurrencies after a roundtable.
A group of European Union regulators will meet next week to discuss the regulation of cryptocurrencies.
The European Union initiative launched Thursday will fund up to $425 million in blockchain projects and draw on ConsenSys' expertise and connections.
EU Commission has released a report titled 'Blockchain in Education' that explains on potentials of the nascent technology in the education industry.
The European Commission (EC) is launching a study aimed to assess the potential of an EU-wide blockchain infrastructure.
The European Commission launched its "Blockchain for Social Good" contest Thursday, announcing a €5 million prize for the winner.
A blockchain advocacy group launched at last year's World Economic Forum is ramping up efforts to promote dialogue in Europe.