The European Parliament added 1 million EUR to the EU budget to stimulate research into non-commercial blockchain applications at the initiative of MEP Marietje Schaake (D66/ALDE). The vote in the Parliament gives Parliament's negotiators a mandate for negotiations with the Council on the budget for the European Union.
MEP Marietje Schaake (D66/ALDE): "Banks and venture capitalists are keen to invest in distributed ledger applications that have a commercial future, for example in the financial sector. But we can also use DLT’s for the public and social good, for instance to prevent corruption, for remittance systems for migrants or displaced groups, or to increase the transparency of supply chains in order to combat trade in conflict minerals.”
Separating hype from value
Schaake. "It sometimes seems as if we have reached the peak of the Blockchain hype, but there are still very few concrete use cases. Investing in research is therefore crucial. European start-ups and other companies that are working on DLT’s for the public and social good therefore deserve a push in the right direction.
The vote kicks off three weeks of “conciliation” talks with the Council, with the aim of reaching a deal between the two institutions in time for next year's budget to be voted on by Parliament and signed by its President in December. The original amendment 1741 can be found on page 146-14 here.