The European Union has decided to increase the amount of data that can be reused for artificial and blockchain-based project by new start-ups, as disclosed by a source on June 6.
According to the report, officials of the European Union hopes that the step to increase knowledge about AI and blockchain will “boost the EU data economy, contribute to the development of a data-based society and stimulate growth.”
The Union noted that it will make available valuable data to the public use at zero cost— which includes statistics, company ownership records and meteorological information. Manufacturers of AI and blockchain products will also have access to these research data which will be made available in a public domain.
In a statement by the minister for communications in Romania, Alexandru Petrescu, about the decision of EU, he noted that:
“These rules are a real enabler for artificial intelligence and will help Europe to become a world leader in this crucial area. They will bolster the EU digital industry, especially smaller companies and startups, which would not otherwise have access to all the data they need to innovate and expand.”
In addition, the report disclosed that member countries to the European Union will be given two years to enforce these rules as part of their national laws.
This decision is coming amid an earlier action taken by the EU to launch the International Association of Trusted Blockchain Applications, which it deemed will be beneficial in solving some of biggest issues in the present economy, most critical is trust between customers and businesses.