November 22, 2019 The European Union has launched a $331M fund to support blockchain efforts.

The European Investment Fund (EIF), European Commission and private investors have launched a fund expected to reach $331M to provide capital to blockchain and AI projects. The move, which will reportedly offer capital to projects via private venture capital firms, is aimed at keeping pace with the U.S. and China’s blockchain efforts. The EU’s total expected investment in blockchain and AI in 2019 is $674M.