The Commission said this was expected to unlock €6.5bn of new investment in innovative start-up and scale-up companies across Europe, doubling the amount of venture capital now available on the continent.
"For the last eight years, Invest Europe has advocated using public money in new ways to bring in more private capital and facilitate the next stage of venture capital's evolution in Europe", said Michael Collins, CEO of the trade body.
Some EU member states already allow consumers to jointly sue a company for compensation, but there is no effective EU-wide tool. This new collaboration is aimed specifically at avoiding "fragmented approaches" to the emerging technology by sharing technical expertise among each country. The press release states that the EC has now invested more than 80 mln euros in blockchain projects already and now has 300 mln euros to be distributed to blockchain development by the year 2020.
"The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens", Gabriel added.
The proposal follows a European Citizens' Initiative, which had been signed by more than 1 million EU citizens, calling on the European Union to ban the controversial weed killer glyphosate.
"Too often during my mandate, I have heard that EFSA is in the hands of industry, " said European Health Commission Vytenis Andriukaitis.
The conference also highlighted the major progress made towards a Digital Single Market such as the end of roaming charges, the portability of online content, stronger rules on the protection of personal data and the first EU-wide rules on cybersecurity, which will become a reality in May 2018.
The €410m will come from existing programmes, including the European Fund for Strategic Investments, the so-called "Juncker plan" to boost EU economic growth. In addition, £12bn under the European Structural and Investment Funds is being invested in digital technologies.
Kim Jong Un to discuss on denuclearisation with US
Trump, speaking to reporters at the White House Monday, said, "Hopefully we'll be able to make a deal on the de-nuking". If the talks go ahead, it would be the first time a sitting USA president has met a North Korean leader.
Russell Crowe 'divorce auction': memorabilia sold
The full auction is tipped to raise £2 million but when asked what he might spend the money on, Crowe remained tight-lipped. The auction, put on by Sotheby's Australia , realised $3,719,200 and had a volume clearance rate of 83.2 per cent.
Gender pay gap in construction revealed
At the same time, approx eight percent of the companies said that they do not discriminate on the gender basis. According to the data, the average difference in the salary of men and women in all companies is 12 percent.