The proposal now needs to be approved by the European Parliament and EU member states.
The Commission said this was expected to unlock €6.5bn of new investment in innovative start-up and scale-up companies across Europe, doubling the amount of venture capital now available on the continent.
While the citizens' request to ban glyphosate was rejected by the commission and European Union member states on the basis of scientific considerations which said it was safe, the commission said it wanted to honour citizens' concern that there was not enough transparency on scientific studies used to approve agri-food products.
The signing parties agreed to cooperate on boosting Europe's technology and industrial capacity in AI and its uptake, including better access to public sector data to influence AI development, fuelling innovative business models and creating economic growth and new qualified digital jobs. "That is excellent news".
The countries, including the U.K., France, Germany, Norway, Spain and the Netherlands, signed a declaration on Tuesday establishing the new group, dubbed the European Blockchain Partnership, according to a release from the European Commission, which led the effort. The afternoon session was dedicated to the Blockchain Partnership Initiative.
The EC now says it will invest €300 million in projects directly related to the use of blockchain technology.
"The Partnership launched today enables member states to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens". The objective is to launch EU-wide blockchain applications across the Digital Single Market for the benefit of the public and private sectors.
Blockchain, it is suggested, makes it possible to share on-line information, agree on and record transactions in a verifiable, secure and permanent way.
As the technology is already being utilized around the world in the financial sector the partnership looks forward to adapting it and integrating it for digital services that will benefit other commercial sectors in the coming years. Calls for the European Union to introduce collective lawsuits, a tool used extensively in United States litigation, had grown after Volkswagen clients were outraged to learn that the German vehicle giant had cheated on emissions tests.
Blockchain has been hailed as the future of technology by many experts and government officials, and the European Commission's vice president, Andrus Ansip, is the latest to voice his support for the technology.