EU authorities will develop a blockchain infrastructure for data exchange within the bloc

What’s new? EU authorities have established an organization that will develop and implement a blockchain infrastructure to record and exchange data between the bloc’s 27 member states. The project, dubbed Europeum, “will have a tangible presence in the daily lives of European citizens,” said Mathieu Michel, Belgian state secretary for digitalization.

Material by DL News

What else is known? The official explained that Europeum will enable a wide range of tasks. For example, citizens with its help will be able to track the origin of purchased products, and companies, to protect intellectual property by storing data in blockchains, a feature of which is the impossibility of making retrospective changes.

Europeum will also act as a repository for digital identifiers, wallets, credentials and licenses, ensuring security and interoperability with other systems. “We need to create a new sovereign infrastructure, rather than depending on Amazon Web Services for telecom,” Michel believes.

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Michel hopes the blockchain infrastructure will turn legal and bureaucratic processes into efficiently automated smart contracts and will support applications for the metaverse as well as the digital euro, which has yet to be released.

The initial implementation of Europeum will involve 10 EU countries, including Italy, Poland, and Greece. They will also act as blockchain operators. Non-participating countries will also be able to use the Europeum infrastructure.

The launch of the organization responsible for Europeum’s development took place during a meeting of telecommunications ministers at the European Council in Brussels. The blockchain infrastructure has been under development since 2017 under the auspices of the European Blockchain and Services Infrastructure agency.

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The developers presented a functioning prototype of Europeum to the members of the European Commission. For now, it remains in pilot mode due to the lack of a regulatory framework for launching a blockchain intended for use by citizens.

Therefore, the project has been transformed into the European Digital Infrastructure Consortium. The European Digital Infrastructure Consortium is supported by the European Commission and is part of the EU’s digital development program until 2030, for which 165 billion EUR have been allocated.

Мем-токены на базе Ethereum резко выросли в цене на фоне слухов о скором запуске ETF

Ethereum-based meme tokens have surged in value amid rumors of an imminent ETF launch

The largest blockchain-based meme coins added between 9% and 22% overnight

What’s new? The rates of several meme tokens based on the Ethereum blockchain showed a sharp rise amid rumors about the possibility of the imminent approval of spot Ethereum exchange-traded funds (ETFs) in the United States. Thus, on May 21, the securities regulator SEC asked issuers to update some of the documents filed for the launch of funds, after which the total capitalization of the crypto market grew by almost 8%.

Data from the CoinGecko aggregator

What else is known? PEPE, the largest Ethereum-based meme token and the third in the overall ranking of similar assets, grew by 21,7% over the day and updated its historic high at $0,00001381. The capitalization of the asset exceeded $5,7 billion.

Milady Meme Coin (LADYS), linked to the NFT collection of the same name, added 8,9% and reached its highest since April 23 at $0,000000225488. Weekly growth of the asset amounted to 54,7%.

The MAGA (TRUMP) token, which uses former US President Donald Trump as a mascot but is not directly linked to the politician, also gained 21% overnight to reach $9,03, the highest level since March 5.

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In response to the SEC’s call, updated Form 19b-4 filings were provided by investment firms Fidelity, VanEck and Franklin Templeton, as well as Galaxy and Invesco (jointly) and ARK Invest and 21Shares (jointly), removing the staking provision.

Under the new wording, issuers and their partners will not lock coins into the protocol to participate in network security and rewards.

However, even approval of Forms 19b-4 does not mean new funds will be allowed into the market. Regulators must also approve the Form S-1 filings that public US companies make to register new securities (in this case, fund shares).