In 2021, the European Commission announced to the world its vision for the Digital Decade 2030. The ambitious program outlines plans to transform the region, including ensuring 80% of people have basic digital skills, digitally transforming businesses and delivering universal gigabit connectivity. I am.
However, in 2022, only a quarter of EU companies have implemented artificial intelligence (AI), experts reported. This has led some to warn that the EU may miss its 10-year digital goal for more than a decade.
In 2023, the EU appears to have turned a corner. According to a report by Amazon Web Services, one-third of all companies in the EU have implemented or started experimenting with AI.
“The acceleration of AI adoption over the past year has put Europe on track to achieve its Digital Decade goals,” said Tanuja Randery, Managing Director at AWS.
The EU is leading the way when it comes to blockchain technology
No digital ten-year plan would be sound without a push towards the adoption of blockchain technology, and the EU remains a consistent leader in this area.
In 2018, the EU launched the European Blockchain Services Infrastructure (EBSI), a collaboration between the European Commission and 29 EU member states, to support the digitalization of EU public services. Secure cross-border transactions, digital identity
Business management and supply chain management are all activated under EBSI.
Europeum is another initiative aimed at government applications. This will ease processes such as EU-wide driving license approval and his VAT declaration, and could also support digital euros and digital twins for EU cities.
The European Digital Infrastructure Consortium (EDIC) is expected to be operational by the end of 2024 and will lead blockchain policy and support the deployment of applications that use blockchain. Unlike EBSI, EDIC is guided and funded by member states. The initial focus will be on public applications such as digital wallets, licensing, identity, and supply chain tracking.
What about regulations? The EU quickly missed the mark in this area as well.of
The Markets in Crypto Assets (MiCA) framework manages crypto assets, their issuers, and crypto asset service providers. MiCA unifies rules across the federation.
Other regulations require transfers of crypto assets to include detailed information about the sender and beneficiary, including the removal of minimum thresholds. Some laws require public registration of companies dealing with crypto assets and expanded travel rules to cover them.
Can the region achieve much-needed economic growth with its leading stance on blockchain? Only time will tell, but for now, this is an example for others to follow. The EU may be catching up when it comes to digital technologies such as AI, but it is far ahead when it comes to blockchain.
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