The European Union contributes to the blockchain
The European Union has already contributed millions into blockchain projects. As reported by Coindesk, six blockchain startups were funded through the Horizon 2020 innovation initiative. As indicated by official data, the EU has invested over €5 mıllıon into the group of startups, three of which received over €1 million per one. Should be noted that European Commission is seeking to create a “Blockchains for Social Good” competition to work alongside with Horizon 2020 and to establish the program to fund cryptocurrency-related projects. It is also known that the European Commission is developing Blockchain Observatory which will serve as a research centre to work on the technology.