Europe to support cryptocurrency

EU decided to invest 750 billion euros (887 billion dollars) into digital technology. This was stated by the chairman of the European Commission of Ursula von der Lyien in his appeal to the European Parliament on September 15, writes Bloomberg.

In the framework of the EU multi-billion dollar project, it invests in the blockchain (structure for writing cryptocurrency transactions), information infrastructure of countries and high-performance computing. With the help of investments, the Commission intends to push members of the block to the development of high technologies and the production of semiconductors.

During a pandemic, the world covered the global deficit of chips, which hit several sectors of the economy, including forced automakers to reduce or stop production at all. The Commission did not disclose details on how to distribute funds between technological sectors.

Over the next 10 years, officials are planning to financially support and other related regions – 5G communication, digital innovation and a secure quantum network (communication network that protects transmitted data using the fundamental laws of quantum mechanics). In addition, the EU also invests in the digital skills of Europeans against the background of active development technology.

In addition, in the summer, Europe made the first steps to the digitalization of the euro. The European Central Bank said that in the era of the dissemination of virtual currency, the population should have convenient access to safe money. According to the forecasts of the Central Bank, the development and distribution of the digital euro will take about two years. The organization stated that mining of such money would be much more environmentally friendly production of other cryptocurrencies, as much less electricity will go on it.

/Media reports.