EU invested 5 million Euros in Blockchain start-ups so far!

The European Union invested 5 million Euros in Blockchain start-ups so far, and their projects deal with the subject of Blockchain!

According to publicly available data, six start-ups have recieved funding from the Horizon 2020 so far that develops or researches web applications using this technology.

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Last week, the European Commission Group for Small and Medium-Sized Enterprises presented the work of the three start-ups: Signaturit, Authenteq and The Billon Group. They are developing digital services, such as digital identity and payment.

The data from Horizon 2020 show that the EU has promoted start-ups with the topic of Blockchain with a total of 5,471,131 euros. Three start-ups received a funding of 1 million €, which means that each were funded with 50,000€.

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Last month, the European Commission announced its intention to organize a “Blockchains for Social Good” competition that goes hand in hand with the Horizon 2020 initiative. European researchers hope that the project will also finance crypto-related initiatives. Previously, the European Commission had already laid the foundations for the so-called “Blockchain Observatory”. This will serve as an office for a research and public relations within the framework of the Blockchain technology.

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