The European Commission and the European Investment Fund (EIF) are launching a new €400 million funding program to improve the use of blockchain and artificial intelligence in Europe.
EIF aims to develop the stages of innovation research in the field of distributed ledger and its application for the economic growth of Europe. The fund also announced that it was going to support new technologies through existing and planned venture capital programs. The Foundation noted:
“The EIF has a great opportunity to support new technology, which has a shortage of investment, through venture capital.”
According to experts’ forecasts and cryptocurrency news, in 2019 Europe as a whole will invest about $700 million on the development of the blockchain, which will make it a leading investor in this field among China – about $300 million, and an investment leader – the United States – $1 billion.