The European Commission will subsidize bockchain development

The European Commission has announced the launch of a grant program for those companies that are developing blockchain technology.

 The European Commission will subsidize bockchain development

European Defense Development Program

The European Commission has announced the launch of a grant program for those companies that are developing blockchain technology. The objective is to promote the application of blockchain for solutions related to defense. The budget foreseen for the subsidies is 254 million euros. Registrations to the program will be open from April 15.

The tender for the European Defense Development Program was published on March 24 and will be aimed at small and medium-sized companies that are willing to develop fast and profitable solutions, based on blockchain technology, for application in the defense sector. The European Commission said they are looking for proposals "based on the real-time cloud and the local digital counterpart that benefits from the strength of blockchain technologies, capable of channeling all currently optimized logistics needs, such as the chain of spare parts, maintenance, consumables of Energy."

A digital counterpart is a virtual representation of any physical entity, such as an object, a person, a machine. Deloitte, the world's number one private professional services firm, conducted a report in 2018 claiming that combining blockchain with digital counterparts can provide many benefits, such as transparent ownership models, efficient data analytics, increased security. of data and other applications.

Without a doubt, blockchain technology has a lot of potential for the future and the main world institutions are realizing that.