Cryptocurrency

Europe is investing € 180 million in blockchain, Spain is leading recruitment

Key facts:

The implementations include various branches such as cyber security, health or handling of the data.

The grants seek to support projects between small and medium-sized enterprises.

Europe through the European Commission and its acceleration programme Horizon 2020 invests 180 million euros in projects with blockchain, 19 of the initiatives are from Spain. The proposals cover multiple areas of work such as cybersecurity, health management, data handling, IoT and privacy.

From Valencia to Madrid, passing through Barcelona, the projects in Spain are among the highest visibility and recognition in the continent. The grants seek to give a boost to your implementation among small and medium-sized enterprises.

A report of the European Commission sent to Breaking News stresses that the solutions are already in their implementation phase or development. The funding comes from a variety of fronts that include awards, Horizon, submit to their requests or the contest Blockchers.

The list of projects benefiting the make up of many initiatives that are broken down by their type of application: privacy include PIMCity, Decode, Ghost and PoSeID-on. In the world of cyber-security mentioned in the Phoenix project, SDN-microSENSE, Trapeze and Soter.

In branch banking and finance digital projects beneficiaries have been Infinitech and Critical-Chains. Other proposals include BD4OPEM (information power), and D-Cent (policy and citizen participation). To verify author rights, traceability and information referred to Orvium, Vottun and HOP Ubiquitous.

They have also received the approval Bettergy (purchase of photovoltaic (pv), Vestigia Blockchain (consumption of water and crops), BodyPass (data from the health sector) and ChangeTheBlock (preparation of contracts intelligent).

The funding for each project are variable, but range from 16,000 euros to five million. The lapses of implementing reach, in some cases, 36 months with solutions that are already in operation. At the continental level more than 50 projects with blockchains have already been funded.

In the following chart breaks down what have been the areas with greater coverage given by all the european projects with blockchains and that have been supported by the European Commission. It highlights cyber security, with a 26%, the Internet of Things with 22%, healthcare 19%, and applications in the industrial sector with 9%.

Projects that relate blockchain with laciberseguridad and the Internet of Things is that more funds have been received in Europe. Source: European Commission.

New paradigms of trust

On the support that the European Commission offers the solutions with blockchains, the organization pointed out, in August of 2019, which records distributed represent new paradigms.

The Commission, in particular through Horizon 2020, has funded several projects in the blockchain helps to introduce new paradigms of trust, as well as social solutions, technical and infrastructural.

He highlighted the commission.

The entity has also been active in the creation of test concepts, pilot projects and initiatives to explore and to understand the legal implications, regulations, policies, research and funding related to blockchains and the technologies of accounting distributed (DLT).

The intention of the agency is to support projects that not only develop the technological aspect, but also contribute in the social field. Breaking News reported in June 2018 that the European Commission would reward you with five million euros to the best solutions based on blockchains in this field.

The programme Horizon 2020 is one of the initiatives of acceleration largest in Europe with a fund of more than 80 billion euros. The resources have been allocated from the 2014 projects of different nature, not only those related to blockchains.

The capital amount of the share capital is set out with the intention of “ensuring the global competitiveness of Europe to boost economic growth and job creation”. By way of reference, between the years 2014 and 2016, the commission received more than 115 thousand eligible proposals requesting funding for a total of 182 billion euros.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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