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EU set to invest $177B in blockchain and other novel technologies
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EU set to invest $177B in blockchain and other novel technologies

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by Virtuse Admin
17. September 2021
EU set to invest $177B in blockchain and other novel technologies

The European Union is reportedly looking to bolster technological development in the region with a planned $177 billion investment war chest.

According to Bloomberg, EU officials plan to fund direct investments in areas like blockchain, data infrastructure, 5G, and quantum computing, among others.

The planned $177 billion investment fund is about 20% of the 750 billion euros ($887 billion) stimulus package agreed upon by EU leaders back in July 2020 to kickstart economic recovery amid the ongoing COVID-19 pandemic.

Speaking on Wednesday, Ursula von der Leyen, President of the European Commission, stressed the importance of investing in digital technology for the entire region.

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