back to article EU plans for blockchain 'observatory' raise concerns, says expert

The European Commission plans to set up an observatory and forum on blockchain and distributer ledger technology (DLT) to help it understand what role public authorities should play in developing and helping uptake of the technologies. The plans raise concerns over the role that the Commission expects to play, said technology …

  1. Zippy's Sausage Factory
    Joke

    Feels like Yes Minister

    Meetings to discuss the agenda for forming a committee to look into whether there should be an inquiry into whether a formal panel to investigate the subject is necessary...

    1. Anonymous Coward
      Anonymous Coward

      Re: Feels like Yes Minister

      At least it's a bargain for 500K euros.... for EU bureaucracy that's a steal!

      1. Pascal Monett Silver badge

        Indeed. The only question is : who's going to do the stealing ?

      2. Anonymous Coward
        Anonymous Coward

        Re: Feels like Yes Minister

        "At least it's a bargain for 500K euros.... for EU bureaucracy that's a steal!"

        Hmm. 5 people at an average of 50k each for two years is not preposterous for looking into a system that could end up underpinning a lot of property and financial transactions in future...

        Just saying.

    2. Anonymous Coward
      Anonymous Coward

      Re: Feels like Yes Minister

      > Meetings to discuss the agenda for forming a committee to look into whether there should be an inquiry into whether a formal panel to investigate the subject is necessary...

      It does have that feel at first, but the EC do tend to make decisions based on objective data rather than politicians' whims (that's what the EU Parliament are for), and as mentioned, doing nothing is an option that is explicitly researched. Setting up these observatories allows the EC to collect their own data rather than rely on information provided by lobbies or other pressure groups which, to put it mildly, may not always show the whole story.

      Apart from that, in terms of public spending €0.5M is the entertainment budget of a mid-sized town. I'd rather have it go into a couple of PhD projects than go up in smoke as the New Year's eve fireworks.

  2. Daedalus Silver badge
    Unhappy

    Here we go again

    "I'm from the EU and I'm here to help"

  3. druck Silver badge
    Stop

    Waste

    Half a billion to work it out it's mainly hype, only suitable for a very small subset of problems, and can be gamed.

  4. Anonymous Coward
    Anonymous Coward

    "said technology law expert Luke Scanlon of Pinsent Masons, the law firm behind Out-Law.com."

    So why is a "technology law expert"¹ commenting on EC service supply contracts?

    That plus the tabloid headline make one wonder whether Pinsent Masons are getting their money's worth from their column here.

    ¹ Please provide credentials?

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