Blockchain Projects in the EU to Benefit from Publicly Available Data 

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The Council of European Union, the institution representing the member states’ government, has implemented new rules that will promote the use of publicly held data.

These will include real-time datasets pertaining to weather and transportation and will be in blockchain and artificial intelligence (AI) projects to foster digital innovation across the European Union (EU), reports Government Europa on June 17, 2019.

Rules for Publicly Funded Data for Blockchain Projects

Per the report, the Council has adopted new regulations to make publicly-funded data such as weather and transport freely available or at a minimal cost to projects targeted at blockchain and AI.

Specifically, projects focused on advanced disruptive technologies can use six  “high value” datasets provided through an application programming interface (API).

The datasets include statistics, geospatial data, data concerning transport and mobility, meteorological trends and figures, environmental and earth observation data, as well as information on company ownership.

The council expects that by making public sector data more accessible, it will stimulate the EU economy, accelerate the development of a data-based society, and lead to more job opportunities in the technology sector.

Alexandru Petrescu, President of the Council of the EU, has also made it clear that he firmly believes that the new rules will contribute to the growth of the region’s artificial intelligence industry and also enable Europe to become a world leader in new technologies.

It will support small companies in the region who would have been unable to gain access to the data they require to innovate and expand, Petrescu added.

National Legislation of Member States

To that effect, the new rules on open data and the reuse of public sector information will be added to the national legislation of Member States within the next two years.

The updated EU Directive outlines how public sector information can significantly impact the development of new applications and the internal market for consumers and legal entities.

The Directive will emphasize how “intelligent data usage, including their processing through artificial intelligence applications, can have a transformative effect on all sectors of the economy.”

More support given to startups looking to launch a product can accelerate the adoption of blockchain technology.

In related news, earlier in April 2019, BTCManager informed that Bruno Le Maire, the French Finance Minister, had revealed plans to place uniform regulation for the continent’s cryptocurrency and blockchain ecosystem.

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