In an official press release issued today, February 1, the European Commission has announced the  Blockchain Observatory and Forum of the European Union.

According to the European Commission , this new body will be responsible for highlighting and promoting the main developments of blockchain technology , reinforcing Europe’s commitment to those entities involved in ecosystem activities.

In this way, the European Commission works to make the European single market a reality also for blockchain and cryptocurrencies.

In Europe there are already initiatives and companies that offer solutions and services based on the blockchain. However, the European Commission seeks to connect the existing initiatives and ensure that they work across the borders of the member states of the European Union, facilitating the joint work of the European experts to be able to face the new challenges that arise.

The Observatory and Forum Blockchain will work collecting information, analyzing trends and exploring the socio-economic potential of technology . They will focus on developing expertise and promoting joint work among European blockchain developers, proposing an open dialogue and exchange of ideas in which new contributions can emerge.

This is not the first time that the European Commission has shown interest in the blockchain, since it has been financing projects related to the block chain through the research programs of the European Union FP7 and Horizon2020 since 2013. In addition, it is estimated that this commission for the year 2020 will have made a total financing in projects related to the blockchain for more 340 million euros .

The company Consensys has been selected as a partner to work together with the European Commission to support the scope and work on the administration of the Blockchain Observatory and Forum after winning a public tender made last year for 500,000 euros. This company founded in 2015 is dedicated to developing decentralized software services and applications in the Ethereum network ; and its purpose is to empower people through decentralized software. It should be noted that just over 3 months ago, Consensys Academy, an educational program of Consensys dedicated to train blockchain developers for Ethereum, successfully graduated its first cohort .

The European Union authorities have been looking for ways to get involved and promote the blockchain among citizens before. For example, last year the European Parliament published an investigation that explained how the blockchain would change the lives of its citizens, so the creation of the Observatory and Forum Blockchain follows this same line.