{"id":339685,"date":"2021-09-15T20:00:00","date_gmt":"2021-09-15T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eu-set-to-invest-177b-in-blockchain-and-other-novel-technologies\/"},"modified":"2021-09-15T20:00:00","modified_gmt":"2021-09-15T17:00:00","slug":"eu-set-to-invest-177b-in-blockchain-and-other-novel-technologies","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eu-set-to-invest-177b-in-blockchain-and-other-novel-technologies\/","title":{"rendered":"# EU set to invest $177B in blockchain and other novel technologies"},"content":{"rendered":"

“# EU set to invest $177B in blockchain and other novel technologies <\/strong>”
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The European Union is reportedly looking to bolster technological development in the region with a planned $177 billion investment war chest.<\/p>\n

According to Bloomberg, EU officials plan<\/a> to fund direct investments in areas like blockchain, data infrastructure, 5G, and quantum computing among others.<\/p>\n

The planned $177 billion investment fund is about 20% of the 750 billion euros ($887 billion) stimulus package agreed upon by EU leaders back in July 2020 to kickstart economic recovery amid the ongoing COVID-19 pandemic.<\/p>\n

Speaking on Wednesday, Ursula von der Leyen, President of the European Commission stressed the importance of investing in digital technology<\/a> for the entire region.<\/p>\n

Indeed, part of the investment fund will go towards the manufacture of low-power processors as EU officials seeks to prevent a recurrence of the semiconductor shortage that affected several industries worldwide.<\/p>\n

While the EU has revealed its focus areas for the $177 billion technology investment fund, there is no information on the amount to be invested in each sector.<\/p>\n

Related: <\/em><\/strong>Survey finds Europeans want home countries to regulate crypto, not EU<\/em><\/strong><\/p>\n

Earlier in September, the Iota Foundation along with six other companies, was chosen to support the early-stage development of the European Blockchain Services Infrastructure \u2014 an EU-wide distributed ledger technology project.<\/p>\n

Back in April 2019, the EU launched the International Association of Trusted Blockchain App<\/a>lications tasked with supporting and promoting DLT adoption in the region.<\/p>\n

Indeed, blockchain has been identified as one of the more important emerging technologies that could shape Europe\u2019s future. As such, EU officials are pushing for region-wide legal standards to prevent regulatory fragmentation.<\/p>\n

However, a recent survey has indicated that a majority of Europeans prefer national regulations for crypto and blockchain rather than a European regulatory standard for the emerging industry.<\/p>\n

Meanwhile, the EU and the United States may soon begin to collaborate in the area of drafting standards for crypto and blockchain regulation.<\/p>\n