EU to introduce blockchain infrastructure to improve record keeping and data transfer between member states

The European Union has established a new organization aimed at introducing blockchain infrastructure and improving record keeping and data transfer among the 27 member states of the EU. This was done during the European Council of Telecoms Ministers held in Brussels, where legislators also approved a landmark AI law for the EU. Mathieu Michel, Belgium's Digital State Secretary, said that blockchain infrastructure will impact individuals and companies. Michel has been pushing for a blockchain project managed by EU countries, which he calls Europeum. He said at a press conference that Europeum will be a tangible presence in the daily lives of European citizens. This will allow citizens to track the origin of their products and enable companies to protect their intellectual property by maintaining data on an immutable blockchain network. Ten European member states, including Italy, Poland, and Greece, have agreed to help operate and launch this EU blockchain. Other European countries will still be able to use this blockchain infrastructure. Michel added that more countries are expected to join. Currently, Germany and France have not made commitments to this arrangement, but the latter has been supportive of the project.