€400 Million Fund to be Set Up in EU to Support Blockchain Projects

The European Union announced the creation of an investment fund that will support blockchain projects, as well as startups related to artificial intelligence.

The organizers have already allocated 100 million euros for this, it is expected that private investors will put another 300-400 million euros in 2020. Experts believe that the assets of the fund will reach 1-2 billion euros in the long term.

“Investing in a portfolio of innovative AI and blockchain companies will help create a dynamic community of investors in the EU,” EIF representatives emphasized.

Important to note is that the European Union invested about 600 million euros for the development of infrastructure related to blockchain technology in 2019 and this figure is growing every year.

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