At a meeting of telecommunications ministers of the European Council, the creation of a new organization, the European Digital Infrastructure Consortium, was announced, tasked with the development and implementation of blockchain under the working name Europeum.

Its own sovereign blockchain is designed to help EU countries free themselves from technological dependence on similar American services. The new blockchain will allow tracking the origin of food products, protecting intellectual property and confidential data from the attention of third parties.

“With the implementation of Europeum, Europe will have a tangible presence in the daily lives of citizens and businesses. It’s high time for us to create our own sovereign infrastructure so as not to depend in the technological sphere on American companies like Amazon Web Services,” explained Belgium’s Secretary of State for Digitalization Mathieu Michel.

According to the European Digital Infrastructure Consortium, ten EU member states, including Italy, Poland and Greece, have agreed to provide financial and technological assistance in the deployment and operation of Europeum.

Earlier, the President of the Central Bank of the Netherlands (DNB) said that the digital euro will not be able to replace cash, but will weaken the EU's dependence on non-European payment technologies.