Council of the European Union makes large amount of data available to blockchain companies

The Council of the European Union is going to implement new guidelines to make data from the public sector more available. The measure is primarily aimed at stimulating new technological developments within the European Union, such as blockchain and artificial intelligence (AI). Government Europa writes this in an article that was published on 17 June.

The Council, consisting of ministers from all EU Member States, has decided to make publicly available data from sectors financed by the EU. This includes, among other things, meteorological data.

For the rest, statistics, geospatial data, data on transport and mobility, meteorological trends and data, environmental and earth observation data, as well as information on company property can be used through an application programming interface (API).

This allows startups and companies to use the data to develop products based on emerging technologies such as blockchain technology. The Romanian Minister of Economy, Niculae Bădălău, President of the Council, said about the new measure:

Predictability is the key for business. Companies that do business via online platforms must be fully aware of the terms of this relationship and, if necessary, able to search for information quickly and efficiently. With the new regulation, the first of its kind in the world, EU companies can take full advantage of the digital economy.

The measures are now included in the EU Directive. The adjustment will be implemented by all Member States over the next two years. The expectation is that making the data blockchain and AI companies available will greatly help in the development of new products. In this way it will also generate more jobs in the technological sector of the European Union.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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