The Government of Aragon Gives $13 Million in Effort to Build Up Blockchain for ‘Industry 4.0’ Revolution
The autonomous community of Aragon in Spain will be giving around €12 million to develop the Industry 4.0. This includes blockchain, artificial intelligence and other technologies that will be revolutionizing the world in the coming years. The information was released by the local news outlet La Vanguardia a few days ago.
The funds turned out to be twice the initial amount proposed and were co-financed by the Europea Regional Development Fund ERDF). This is part of a project called Operational program of Aragon for the period 2014-2020. It will be possible to use the funds received to focus on the development of the industrial property, consulting projects and also their planning.
The program will be attracting representatives from different economic areas such as research centers or technology firms. They will be working with a group of experts that will be using the funds to think new solutions adapted for their own industry.
Small and medium enterprises (SMEs) will be using the funds to digitalize their processes and products. Furthermore, it might be possible to enable these firms to develop their own R&D teams and become more competitive. There are several startups around the world that are investing in R&D to improve their services with these new technologies.
According to reports from Europa Press from September 2018, Aragon became the first community in Spain to apply blockchain technology in its administration. Thus, the projects related to blockchain in the community are not new and have already been gaining traction.
The main intention behind it is to provide blockchain-based services at the state level. To do so, the Aragonese government signed a contract with the blockchain ecosystem Alastria, that has more than 274 entities that follow European and Spanish law standards.
Around the world, there are many other governments that are implementing blockchain technology to improve their services and products. In the Netherlands, they have tested different pilots related to blockchain technology in many agencies across the country.
Spain and other European countries are also trying to regulate the virtual currency and blockchain market in Europe. As of today, there are no unified rules for the European Union (EU) member states.