ADVERTISEMENT

EU Targets Blockchain, Data in ‘Make or Break’ Tech Investment

EU Targets Blockchain, Data in ‘Make or Break’ Tech Investment

The European Union will invest in blockchain, data infrastructure and high-performance computing as part of a multibillion-euro push to stoke technology development across the bloc.

The projects, to be organized across several EU countries, add to a regional push toward manufacturing semiconductors after a global shortage forced carmakers to slow production lines. The European Commission didn’t give details of how much would be invested in each technology area.

About a fifth of the EU’s 750 billion-euro ($887 billion) pandemic recovery fund will be spent on digital technology with digital “the make-or-break issue” for the region, EU Commission President Ursula von der Leyen said Wednesday.

Officials want to direct funding in several areas by 2030:

  • data infrastructure
  • low-power processors
  • 5G communication
  • high-performance computing
  • secure quantum communication
  • public administration
  • blockchain services
  • digital innovation
  • investing in people’s digital skills

©2021 Bloomberg L.P.