The EU invested more than 5 million euros in Blockchain start-ups

The European Union has invested more than 5 million euros (about 6 million US dollars) in start-ups, which are developing various projects related to the blockade.

According to the publicly available data, to date, six start-ups developing or studying the use of this technology have received funding in the framework of the newly launched Horizon 2020 initiative.

Last week, the European Commission for Small and Medium-sized Enterprises (SME) described in detail the work of three start-ups - Signaturit, Authenteq and The Billon Group - created, among other things, to develop services that relate to digital identification and payments. 

The data of the Horizon 2020 show that the EU allocated 5,471,131 euros to finance a group of start-ups. Three start-ups of these received more than 1 million euros, while three others received 50,000 euros per each.

Future investments

Last month, the European Commission (the executive branch of the EU) announced that it plans to create a competition for "Blocks for the social good", which will work together with the Horizon 2020. European researchers also carefully reviewed the program for financing projects related to crypto-currencies. 

Earlier this year, the European Commission also began to lay the foundation for the so-called Blochein Observatory, which will act as a research and information and agitation office for its work with technology