A large sum of European funds was allocated to facilitate cryptocurrency and blockchain-related projects, and Italy and other countries on the continent will benefit from these initiatives. More than €180 million has already been invested in research and innovation initiatives in the blockchain industry. Cybersecurity and the Internet of Things are one of the sectors that have obtained the largest slice of European Union (EU) funding.
EU support for pilot developments and research initiatives in the distributed ledger (DLT) has particularly addressed about 11 key sectors in the region. Almost 50% of the resources went to initiatives centered on
cybersecurity (26%) and internet of things (
IoT, by approx. 22 percent), followed by projects in the
healthcare sector (19 percent).
Other targeted blockchain EU funded projects per sector and future technologies, including; digital economy/society; education; industrial technologies (9 percent); media (4 percent); NGI;
e-identity; environment; and
Funds Dedicated to Cryptocurrency, DLT Projects
In connection with research and innovation projects, the European Union Commission, through the Horizon 2020 program, has financed numerous developments in which distributed ledger technology contribute to the emergence of new paradigms and technical and infrastructural solutions.
Horizon 2020 is the financial instrument implementing the Innovation Union, political initiative to ensure the competitiveness of Member States –
Italy is a member. The instrument serves the purposes of financing research, development and innovation going-ons including blockchain, cryptocurrency, internet of things, artificial intelligence (AI), smart contracts and others.
Another tool to support initiatives of this type is the Connecting Europe Facility (CEF), whose funding…