The EUBOF has predicted that because blockchain networks offer interoperability, sustainability, and energy efficient tech solutions – it will see adoption.
The EUBOF is an initiative launched by the European Commission in 2020
The European Blockchain Observatory and Forum (EUBOF) has given a heads up to the European Union (EU) to get prepared to handle the upcoming era of decentralised AI networks. In a report addressed to the EU, the EUBOF said that the merging of blockchain and AI is surfacing as a trend in the tech industry being rapidly explored especially in the sectors of finance and health care. The report has listed property management and supply chains that will be among sectors benefitting from blockchain-related applications in the near future.
EUBOF is an initiative launched by the European Commission in 2020 in order to facilitate research and development around the blockchain technology. After the EU released its MiCA regulations to govern the volatile crypto sector last year, the EUBOF submitted its report to the EU aiming to nudge the body to start discussing steps to make the best use of blockchain’s use cases in decentralised finance (DeFi), energy sector, metaverse, smart contracts, automative sector, and decentralised social media.
“MiCA has been pivotal in setting a harmonised regulatory standard for crypto-assets, issuers, and service providers, focusing on consumer protection, transparency, and market integrity. As CBDCs, the convergence of blockchain with AI, and other emerging trends continue to develop, they will drive more innovation and create new opportunities across various sectors,” the report noted.
Source:gadget360.com