Blockchain is a new technology that makes it possible for large groups of people or organisations who may not know or trust each other to collectively agree on and permanently record information without the need of a third-party authority. By creating trust in data in ways that were not possible before, blockchain has the potential to revolutionise how we share information and carry out transactions online. The EU believes that blockchain technology when properly used can provide significant benefits to European industry, the European economy, and to European society as a whole. For this reason, the European Commission is supporting blockchain on the policy, legal and regulatory, and funding fronts.