On February 1, the European Commission and one of the most famous Ethereum startup ConsenSys have launched the EU Blockchain Observatory.

The Observatory is expected to be an expert platform for investigating the socioeconomic potential of blockсhain technology. Many companies from different sectors and countries are already engaged with blockchain activities. The Observatory aims to help the existing initiatives work together across borders.

“We want to build on Europe's substantial talent base and excellent startups to become a leading world region that will develop and invest in the rollout of blockchain," Vice-President of the European Commission Andrus Ansip said.

For the first time, the European Commission expressed its interest in institution exploration of blockchain in Spring 2017. Then, in July 2017, ConsenSys was chosen as the EU’s partner to work on creation of the Observatory. Today the EU Blockchain Observatory is allocated €340 million to fund blockchain technology projects for two years.