European Union Allows More Data for Blockchain and AI Projects

According to a news release from June 6, the European Union has decided to increase the amount of data it allows for blockchain and artificial intelligence projects. The goal for this move is to see an improvement in the economy and to stimulate growth while increasing the viability of a society which is data based.

More high-value data will be available without cost. Some of this data includes records of company ownership and statistics. Blockchain and AI projects will be able to use real-time weather data and transport information along with data already available to the public.

EU member states have been given up to two years to make the changes to their national laws. The International Association of Trusted Blockchain Applications was officially launched by the EU in April 2019. The technology is aimed to help solve some of the major issues in the world economy, which includes tracking the authenticity of goods being sold and developing trust between buyers and sellers.