A Press Release on February 1st from the European Commission announces a forum for blockchain called the EU Blockchain Observatory and Forum (EUBOF). It will be headed by German MEP Jakob von Weizsäcker, who recently also reported to the Commission on digital currencies. The EUBOF was created as a pilot project by von Weizsacker for the European Parliament, and will support the work also being done in FinTech.

The EUBOF is to highlight key developments in the new technology, with an eye to promoting and reinforcing European participation and engagement. The Commission\'s intention is to increase visibility in the blockchain ecosystem. They will address the new challenges posed by the technological breakthrough, consolidating known expertise and building on existing initiatives. Behind this lies the intent to support European industry, by introducing new business models and improving processes and cross-border co-operation

The Commission foresees blockchain impacting a wide range of digital services involved in such areas as energy, healthcare, intellectual property rights, finance, logistics, insurance, and government services. Commissioners would like EU members to benefit from a Digital Single Market, rather than be bewildered by a patchwork of individual initiatives.

The Press Release is supported by two factsheets on blockchain tech and how it can benefit Europe.