European Investment Fund relies on Blockchain and AI
Blockchain

European Investment Fund relies on Blockchain and AI

By Alfredo de Candia - 22 Nov 2019

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As reported in a post published by the European Investment Fund (EIF), the fund has invested in the blockchain and artificial intelligence sectors because they represent a priority for the European Union given that the future will see a great expansion of these areas.

According to data provided by the International Data Corporation, the countries that have invested in blockchain in 2019 are America with over $1 billion, in second place Europe with $674 million and finally China with $319 million. In the case of artificial intelligence, however, investments are in the range of $5 billion. 

As shown above, there are many interests at stake, as well as investments, and in fact, the European Investment Fund intends to fill the current gap of these sectors because they represent a good opportunity to support all those projects that want to use blockchain and AI.

The European Commission is already planning to launch a fund of 100 million euros, with the hope that it will also attract private capital that can then be added to the fund and thus expect a 3x on the initial investment.

The same will be true for the banks, which will be able to co-invest in the projects and increase the capital invested.

Considering also that the investments will take place at the European level, the regulation will also be unified, just like the procedures for obtaining funds.

The investments that will be made by the European Investment Fund, especially in the blockchain area, will allow creating a standard and efficient protocol with regard to certain sectors. It is worth considering how in the future, with appropriate procedures on public blockchains, it will be possible to trace certain goods and services or even vote. 

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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