Digital Innovation Magazine - April 2020

CPO Marko Väisänen’s roadmap

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elcome to the April edition of Digital Innovation Magazine. We have another great issue lined up for you this month! In light of the recent coronavirus outbreak, we were really lucky that Marko Väisänen, CPO at Eltel Networks Finland, found time to talk to us (p6). Marko is responsible for the company’s procurement and logistics function, and it was fascinating to hear first-hand how digitalisation is adding value to the business.

This month, we are also featuring a Q&A with Atomico partner, Siraj Khaliq (p48). Siraj has a few words of advice for investors looking to partner with today’s deep tech start-ups. Plus, we have a really interesting fintech in the spotlight for this issue’s start-up of the month (p88). Check out banking platform, Qonto! Its co-founders say that by uniting design and technology, they can offer an unparalleled customer experience.

What’s more, we bring you the latest on 5G security (p48), Europe’s blockchain infrastructure (p78), The European Commission's AI policy proposals (p66), as well as the role of environmental sensors in helping to save our planet (24).

We are excited to announce that the launch issue of our sister publication, CHAIN, is now live. You can view it right here.

Editor Anna McMahon

Director Danielle Harris

editorial@digitalinnovationeu.com

d.harris@ithink.media

Senior Digital Designer Daniel May

Director Tom Barnes

design@digitalinnovationeu.com

t.barnes@ithink.media

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Marko Väisän at Eltel Networ

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The role of sensors in protecting the environment

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EU toolbox for secure 5G networks Europe’s tech blueprint for challenging the US and China 4

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First Belg Blockcha

nen is CPO rks Finland

Fintech Qonto – a banking platform with a difference!

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gian node of the European ain Services Infrastructure

Atomico partner Siraj Khaliq’s tips for deep tech investors

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B U S I N E S S I N T E RV I E W

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Marko Väisänen, CPO (Chief Procurement Officer) at Eltel Networks Finland, details his roadmap for the digitalisation of the company’s procurement and logistics function.

Written by Anna McMahon Produced by Jennifer Davies

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7,200 EMPLOYEES

OF NET SALES

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LOCATIONS ACROSS FINLAND

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ELTEL NETWORKS IS A LEADING NORTHERN EUROPEAN PROVIDER OF TECHNICAL SERVICES FOR POWER AND COMMUNICATION NETWORKS, DELIVERING A COMPREHENSIVE RANGE OF SOLUTIONS, FROM MAINTENANCE AND UPGRADE SERVICES, TO PROJECT DELIVERY. ith operations in Finland, Denmark, Germany, Lithuania, Norway, Poland and Sweden, CPO, Marko Väisänen, is responsible for the company’s procurement function across Finland. He explains, “The group was founded in 2001. In 2018, the net sales were EURO 1.2billion, with a total of around 7,200 employees. We have two major business lines at group level – power and communications.

Our customers include the main electric companies, so when they are building networks, we act as contractor, while also maintaining the networks, operating across both mobile and fixed networks. Our customers are the biggest

service providers here in the Nordics.”

In Finland itself, there are two further business lines – build (handling all big projects for both power and communications) and smart solutions (including solar panels, electric car chargers and street lights). There are 1,500 employees working in over 60 locations across the whole of the country. Marko says, “We are present everywhere in Finland, as it is our responsibility to maintain the networks. We have to be there in order to give the best service to our customers.”

As CPO of Eltel Networks Finland, Marko says the company has very little group-level function

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“DIGITALISATION OF PROCUREMENT HAS BEEN THE DRIVING FACTOR IN ENSURING CONTRACT-LEVEL SPECIFICATIONS AND DETAILS, AS AGREED WITH SUPPLIERS, ARE ACCURATE”

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because the business is local by definition. He explains, “We have what we would describe as local organisations in all countries. I am responsible for the procurement function here in Finland, but I have colleagues doing the same thing in Sweden, Norway and Denmark.”

When it comes to procurement, the organisation is centralised, however. Marko says, “As a centralised function, we are giving this service to all business lines. Of course, we try to provide value, by, for example, combining suppliers for different business lines. In this way, we can generate more revenue, increase volume for purchases and reduce unit prices.

If we are lowering costs, this, in turn, is good for the business lines.”

By having locations all over Finland, this presents a challenge

for Marko and his team. He explains, “We have a small to mid-enterprise function for procurement. This means we are not present in every location. To service each and every one of them is therefore challenging.

The centralised procurement function is in its early stages, so the business lines are still learning how to use it. Without this, if an agreement with a local supplier has been made, how do you get it centrally to see what has been agreed and that it is valid?”

Digitalisation of procurement has been the driving factor in ensuring contract-level specifications and details, as agreed with suppliers, are accurate. Marko adds, “Digitalisation is one of my favourite topics. I started in 2019 at Eltel. What I found when I came here is that there was very little digitalisation of procurement. In the planning phase, agreements 11

MARKO SET ABOUT DE FOR THE DIGITALISATIO AND LOGISTICS AT ELT

FOUR MAIN C

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1

2

CONTRACT MANAGEMENT

SPEND MANAGEMENT

EVISING A ROADMAP ON OF PROCUREMENT TEL, DIVIDING IT INTO

CATEGORIES:

3

4

SUPPLIER MANAGEMENT

PURCHASING

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were stored in an archive.

Knowing where to store them was part of phase one. Having digitalised agreements in one place so you can see what has been agreed is very important.”

It is also easy to store them and makes the process so much faster. We did our calculations and the estimated employee time savings are 15 minutes per document.”

In addition, Eltel implemented Adobe e-signature platform Adobe Sign last year for the first time. Marko explains, “Being across many different locations, we had the problem of how to get signatures for contracts.

We tested e-signatures for six months last year and found that is suits us very well. It is the simplest way of getting a signature for an agreement without having to copy, scan and send documents by email.

But, the path has not been plain-sailing. Marko says, “The work is ongoing. When I was creating the roadmap, the challenge was to see what we have and what kind of digital services and information we really need. We have to convince business lines that it is a good idea to have a solution as they are usually funding it, so we have to be sure that the applications or services add value.”

ELTEL IMPLEMENTED ADOBE E-SIGNATURE PLATFORM ADOBE SIGN LAST YEAR FOR THE FIRST TIME

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For supplier management, Marko plans to combine Eltel’s internal data with external data to offer one clear view. He says, “If you can see that a supplier is losing revenue and not making a profit anymore, but we are still buying from them, it should ring a bell that something is going wrong.

We can then act and react

beforehand, not after the business has collapsed. These insights can help to protect the business.

We are building the supplier dashboard to have one view of how our suppliers are doing.”

And in terms of a timetable for the roadmap, Marko says he is taking a step-by-step approach.

“SUSTAINABILITY IS EXTREMELY IMPORTANT. IN SECURING THE OPERATION OF POWER AND COMMUNICATION NETWORKS FOR A MORE SUSTAINABLE AND CONNECTED WORLD TODAY FOR FUTURE GENERATIONS, WE CAN MAKE A BIG IMPACT IN OUR BUSINESS”

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“TALKING ABOUT ELECTRIC CAR CHARGERS, THERE IS NO POINT IN HAVING ELECTRIC CARS WITHOUT CHARGERS. WE ARE TAKING STEPS AT SOCIETAL LEVEL, AS WELL AS LOOKING AT THE PRODUCTION CARS IN OUR OWN BUSINESS” Marko Väisänen, CPO

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The contract management part is in ready phase, so he is now moving towards the spend and supplier management phases. Marko explains, “For the procurement side, we are starting e-purchasing for installation material. We already have e-purchasing for indirect material, but we are now starting the planning and implementation for our projects and direct material. We hope we will fully implement this during Q3-Q4 2020.”

As for the future, automation is a potential topic of

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conversation for Eltel Networks Finland. Marko says, “Everybody is talking about AI. If there is something we can use that will absolutely add value, only then are we interested. That is the next step for us.”

Eltel Networks is partnering with ProSave for the e-purchasing of installation material, but when it comes to Eltel’s supplier management and dashboard, that is something they are building themselves. Marko adds, “One big reason for building it internally is we are utilising the software we are

ELTEL NETWORKS IS PARTNERING WITH PROSAVE FOR THE E-PURCHASING OF INSTALLATION MATERIAL

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“THERE ARE LOTS OF SUSTAINABLE ACTIONS WE ARE TAKING HERE AT ELTEL IN ANSWER TO OUR CUSTOMERS’ REQUIREMENTS”

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already using in other reporting.

We are not bringing in any new reporting software.”

As a final point, Marko is keen to stress Eltel Networks’ strong focus on sustainability. He concludes, “Sustainability is extremely important. In securing the operation of power and communication networks for a more sustainable and connected world today for future generations, we can make a big impact in our business. Talking about electric car chargers, there is no point in having electric cars without chargers. We are taking steps at societal level, as well as looking at the production cars in our own business. There are lots of sustainable actions we are taking here at Eltel in answer to our customers’ requirements.”

For further information on Eltel Networks, visit www.eltelgroup.com

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ENVIRONMENT

Sensors can assist in monitoring and reducing harmful gases, as we move towards a more sustainable society.

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A rise in global concern led to the development technology aiming to biggest environmental as a society through a sustainable, low-c

he Paris agreement, signed in 2016, has obliged almost every country in the world to undertake ambitious efforts to combat climate change by keeping the rise

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in the global average temperature at less than 2°C above pre-industrial levels. As a result, it has given rise to ‘green’ technology such as renewable energy, smart technology, electric vehicles and carbon dioxide removal.

n for climate change has t of new environmental help solve some of the concerns that we face a shift towards a more carbon economy.

TO KEEP the rise in the global average temperature at less than...

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Full-scale DAC operations to absorb the equivalent of carbon to the annual e of 250,000 average c

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s are able t amount emissions cars

The latter is known as Direct Air Capture (DAC), which is the idea of pulling carbon dioxide directly out of the atmosphere, and is still in the early stages of development.

Carbon dioxide is captured directly from the ambient air, generating a concentrated stream of CO for ² sequestration or utilisation. The air is then pushed through a filter by many large fans, where CO is removed. ² It is thought that this technology can be used to manage emissions from distributed sources, such as exhaust fumes from cars. Full-scale DAC operations are able to absorb the equivalent amount of carbon to the annual emissions of 250,000 average cars.

Many argue that DAC is essential for climate change mitigation, and that it can help reach the Paris Climate

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Agreement goals, as carbon dioxide in the air has been the main cause of the problem after all. However, the high cost of DAC currently means that it is not an option on a large scale.

So, how can environmental technology such as Edinburgh Sensors’ Gas Sensor contribute?

Sensors play a huge role in the positive impact of technology on the environment in the monitoring and reduction of harmful activities.

Edinburgh Sensors produce bespoke gas sensing technology, which can be used across a wide range of applications, including the detection of carbon dioxide to mitigate environmental concerns.

Three applications in which sensors are used for environmental purposes include the monitoring of greenhouse gas emissions, the monitoring of methane using an infrared sensor and the detection of gases using a UAV drone.

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Monitoring greenhouse gas emissions Edinburgh Sensors Gascard NG provides high quality, accurate and reliable measurements of CO, CO and CH ²

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Using an infrared sensor for monitoring methane Edinburgh Sensors’ Gascard NG is used for methane detection in a range of research, industrial and environmental applications including pollution monitoring, agricultural research, chemical processes and many more.

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Using a UAV drone attached to a gas sensor to measure harmful gases From monitoring global warming to tracking the spread of pollution, there are many reasons to use a drone in order to monitor carbon dioxide, methane and other hydrocarbon gas concentrations in remote or dangerous locations.

Edinburgh Sensors’ continued research and development have contributed to several major advances in the world of infrared gas sensing. With a global reputation for high performance, the company’s gas detection products are an ideal solution for those applications where accuracy, safety and the environment are paramount.

A spokesperson said, “We continue to pioneer developments as we explore new opportunities using NDIR and nonNDIR technologies. Backed by our widely recognised technological achievements, we are firmly committed to our customers and invest in our people. We stand by our global reputation for excellence.”

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For further information on Edinburgh Sensors, visit www.edinburghsensors.com

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DEEP TECH

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Atomico partner, Siraj Khaliq, shares his tips for founders in the deep tech sector.

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Deep tech, or ‘fron investment team at Atomico, prefer innovation a

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ntier tech’, as the t European VC firm, rs to call it, has at its core. deas can be in development for years before germinating into companies, and even then, investors may work with start-ups for a long period of time before deciding to follow up with funding.

Atomico partner, Siraj Khaliq, said, “Over the course of a year, we will tend to do three to four theses and deep-dive processes, where we end up deciding whether we want to pursue investments or not.”

Part of the reason he is so selective is because deep tech is a moving target – something that is revolutionary one year

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will become the baseline for the next year. A founder needs to show investors that the company is worth what they think it’s worth, with evidence of meaningful progress and milestones for the future.

Siraj is particularly interested in start-ups working on quantum computing and innovations in biology. The nature of deep tech means founders usually require a background in the subject matter before they can think about starting a company, or need to find a partner with the knowledge to put their idea into action. But now is a great time for first-time founders, he says, with more funding available than ever before.

He advises deep tech entrepreneurs to talk to people about their plans before developing them.

In industry, many people worry about others stealing their ideas, but this can be counter-productive. So, what other advice does Siraj have for those looking to invest in deep tech start-ups?

Characteristics to look for in a founder We look for grit and determination, but also that they are responsive to the changing conditions around them and the feedback they receive.

“Siraj is particul in start-ups work computing and inno

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larly interested king on quantum ovations in biology�

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“We look for grit a determination, but that they are resp the changing cond around them and t feedback they rec Siraj Khaliq, Partner

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and t also ponsive to ditions the ceive�

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“I think the futur synthetic biology is the most compellin next de

Siraj Khaliq Things that have changed in the start-up ecosystem There is a higher ambition level.

People are not just looking to start companies and flip them or get acquired for a few hundred million; they're looking to build bigger things.

There's a talent pool people can draw from. You can hire employees now that are willing to take a risk in the start-up, when previously they would have just liked to stay at a large company.

Deal he most regrets missing out on A company called CRTL-Labs was acquired by Facebook recently. It’s a really interesting way of controlling machines using neurons using your 44

re of biology and s going to be one of ng changes over the ecades�

q, Partner

brain firing, and special entrepreneurs. I really liked that one. I wish we would have made that investment.

The worst pitch he has heard I think, stylistically, sometimes people focus on the wrong things, or are not attuned to reality. Sometimes they don't realise that a market is not big enough to support a good business. But I wouldn't criticise individual companies.

Trends to watch over the next decade Source: Wired

I think the future of biology and synthetic biology is going to be one of the most compelling changes over the next decades, and we're all going to be amazed by the progress.

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5G NEWS

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The EU toolbox for 5G security is a set of robust and comprehensive measures for an EU coordinated approach to secure 5G networks.

We find out more in an interview with The European Commission, which provides its full support to the work.

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Why is the cybersecurity of 5G networks important?

s a major enabler for future digital services, 5G will play a key role in the development of our digital economy and society in the years to come. From personalised medicine to precision agriculture, from smart energy grids to connected mobility, 5G will potentially affect almost every aspect of EU citizens' lives. At the same time, due to its less centralised architecture, smart computing power at the edge, the need for more antennas and increased dependency on software, 5G networks offer more potential entry points for

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attackers. Therefore, ensuring the security of the EU's future 5G networks is of utmost importance.

While operators are largely responsible for the secure roll-out of 5G, and Member States are responsible for national security, network security is an issue of strategic importance for the entire EU. A coordinated approach based on robust security measures at national and EU level will help Europe to remain one of the leading regions in the 5G deployment.

5G is the fifth generation of wireless communications technologies supporting cellular data networks.

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The ultimate goal is to create a robust and objective framework of security measures 52

What is the EU toolbox on 5G Cybersecurity about?

The objective of the EU toolbox on 5G Cybersecurity is to identify a coordinated European approach based on a common set of measures, aimed at mitigating the main cybersecurity risks of 5G networks that were identified in the EU coordinated risk assessment report. It also intends to provide guidance in the selection and prioritisation of measures that should be part of national and EU risk mitigation plans. The ultimate goal is to

create a robust and objective framework of security measures, which will ensure an adequate level of cybersecurity of 5G networks across the EU, through coordinated approaches among Member States. The approach taken is a risk-based one and solely on security grounds. This approach is in full respect of the openness of the EU internal Market, as long as the EU security requirements are respected.

What are the main conclusions of the toolbox?

The toolbox recommends a set of key actions for the Member States and/or the Commission.

Member States agreed to ensure that they have measures in place (including relevant powers for national authorities)

to respond appropriately and proportionately to the risks already identified, as well as possible future risks.

In particular, they agreed to ensure that they would be able to restrict, prohibit, and/or impose specific

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requirements and conditions, in accordance with a risk-based approach, for the supply, deployment and operation of 5G network equipment. In particular, they should:

• Strengthen security requirements for mobile network operators (e.g. strict access controls, rules on secure operation and monitoring, limitations on outsourcing of specific functions etc)

5G NEWS

• Assess the risk profile of suppliers; as a consequence, apply relevant restrictions for suppliers considered to be high risk – including necessary exclusions to effectively mitigate risks – for key assets defined as critical and sensitive in the EU-wide coordinated risk assessment (e.g. core network functions, network management and orchestration functions, and access network functions)

• Ensure that each operator has an appropriate multi-vendor strategy to avoid or limit any major dependency on a single supplier (or suppliers with a similar risk profile), ensure an adequate balance of suppliers 54

at national level and avoid dependency on suppliers considered to be high risk; this also requires avoiding any situations of lock-in with a single supplier, including by promoting greater interoperability of equipment.

The toolbox recommends that the Commission, together with Member States, should contribute to:

• Maintaining a diverse and sustainable 5G supply chain in order to avoid long-term dependency, including by:

»»Making full use of the existing EU tools and instruments, in particular through the screening of potential foreign direct investments (FDIs) affecting 5G key assets and by avoiding distortions in the 5G supply market stemming from potential dumping or subsidies

For each of the nine risk areas identified in the EU coordinated risk assessment report, the toolbox identifies and provides risk mitigation plans

»»Further strengthening EU capacities in the 5G and post-5G technologies, by using relevant EU programmes and funding

• Facilitating coordination between Member states regarding standardisation to achieve specific security objectives and developing relevant EU-wide certification scheme(s) in order to promote more secure products and processes.

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The EU toolbox on 5G cybersecurity is a document prepared and agreed by the NIS Cooperation Group 56

What are the different types of measures identified in the EU toolbox?

For each of the nine risk areas identified in the EU coordinated risk assessment report, the toolbox identifies and provides risk mitigation plans. They consist of possible combinations of strategic and technical measures.

• Strategic measures identified in the toolbox range from measures concerning increased regulatory powers for authorities to scrutinise network procurement and deployment, specific measures to address risks related to nontechnical vulnerabilities (e.g. risk of interference by non-EU state or state-backed actors), to assessing the risk profile of suppliers and promoting initiatives to support the development of sustainable and diverse 5G suppliers

• Technical measures identified in the toolbox range from ensuring strict access control and secure network management, operation and monitoring to using certification for 5G network components and/or processes

• Supporting actions cover actions in the area of 5G standards, reinforcing testing and auditing capabilities, improving the coordination efforts in case of incidents, or making sure that cybersecurity risks are fully taken into account in EU-funded 5G projects. These supporting actions can enable, assist and enhance the effectiveness of the strategic and technical measures.

What is a risk mitigation plan?

For each of the nine risk areas identified in the EU coordinated risk assessment report, the toolbox identifies and provides risk mitigation plans. They

consist of possible combinations of strategic/and or technical measures (together with the appropriate supporting actions) intended to mitigate a security risk.

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Are the toolbox measures mandatory?

The EU toolbox on 5G cybersecurity is a document prepared and agreed by the NIS Cooperation Group, which consists of representatives of all Member States authorities, the Commission and the EU Cybersecurity Agency.

The development of a coordinated EU approach on 5G cybersecurity relies on the strong commitment by both Member States and the Commission to use and fully implement a key set of recommended measures.

The toolbox sets out a precise and objective methodology to address the risks identified in the European risk assessment published in October 2019, while respecting national competences in this area.

At the same time, the roll-out and operation of 5G networks is a matter of national security.

Member States can go further than what is proposed in the toolbox where they identify a need to do so.

How will the EU toolbox be implemented?

An appropriate combination of various types of measures is needed to effectively mitigate the identified risks. Indeed, Member States will need to take a range of mitigation actions to effectively address the security risks related to 5G networks. Measures may be implemented through national

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and/or EU actions, depending on the specific measure and actions. Some measures may be directly introduced or reinforced at national level, while others may require further or joint action at EU level, in line with the respective national and EU competences.

An appropriate combination of various types of measures is needed to effectively mitigate the identified risks 59

Does the toolbox address the risk of interference from a third country?

The toolbox addresses all risks identified in the EU coordinated risk assessment, including risks related to the interference from a third country via the 5G supply chain. It does not target any supplier or country in particular.

To mitigate this particular risk, the toolbox recommends that all Member States take the following steps:

1 Assess the risk profile of suppliers, having regard to criteria set out in the EU-wide coordinated risk assessment

2 As a consequence, apply relevant restrictions for suppliers considered to be high risk – including necessary exclusions to effectively mitigate risks – for key 60

assets defined as critical and sensitive (e.g. core network functions, network management and orchestration functions, and access network functions).

How does the Commission Communication complement the EU toolbox?

The Commission Communication endorses the EU toolbox and proposes a way forward for its implementation.

Moreover, the Commission will act, as requested in the toolbox, using, where appropriate, all the tools at its disposal to ensure the security of the 5G infrastructure and supply chain, including:

• Telecoms and cybersecurity rules, e.g. support under electronic communications rules, including consideration of implementing acts on technical and organisational security measures • Coordination on standardisation, e.g. regarding participation in standardisation bodies, and

promoting interoperability though open interfaces • EU-wide certification, under the EU Cybersecurity Act • Foreign direct investment screening to protect the European 5G supply chain • Trade defence instruments: market monitoring and action to protect EU actors in 5G market against potential trade distorting practices (dumping or subsidisation) • Competition rules: market monitoring to ensure competitive outcomes, including in relation to potential lock-in situations • Public procurement, ensuring that due consideration is given to security aspects when awarding public contracts, as well as through EU funding programmes, and ensuring that beneficiaries comply with relevant security requirements • Making full use of incident response and crisis management frameworks at EU level, in response to largescale cybersecurity incidents • Increase investments in research innovation and deployment technologies.

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The Commiss implementat act, as reques all the tools a security of th chain, where 62

What instruments are available at EU level to protect 5G networks?

The EU already has a range of instruments to protect electronic communications networks.

Under the EU telecommunications framework, obligations can be imposed on telecommunication operators. Member States are required to ensure the integrity and security of public communications networks and that public communications networks or services take measures to manage security risks. The framework also provides

that competent national regulatory authorities have powers to issue binding instructions and ensure compliance.

Furthermore, the Commission will support the implementation of the EU toolbox and will act, as requested by Member States, using all the tools at its disposal to ensure the security of the 5G infrastructure and supply chain, where appropriate.

sion will support the tion of the EU toolbox and will sted by Member States, using at its disposal to ensure the he 5G infrastructure and supply appropriate 63

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A RT I F I C I A L I N T E L L I G E N C E

Europe reveals its ambitious tech blueprint to take on the US and China.

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he European Commission's wide-ranging policy proposals set out ideas around access to data, the regulation of artificial intelligence and facialrecognition technologies, and support for the growth of European tech.

The proposals are from Margrethe Vestager, Thierry Breton, and Ursula von der Leyen, all senior members of the commission. Von der Leyen explained, “We believe citizens should be empowered to make better decisions based on insights gleaned from non-personal data.

“And we want that data to be available to all – whether 68

public or private, big or small, start-up or giant.

This will help society as a whole to get the most out of innovation and competition, and ensure that we all benefit from a digital dividend.”

The proposal centres on creating a ‘single market’ to let data about everything, from health to finance to energy, ‘flow freely within the European Union’ by 2030.

The goal of all this is to boost data-sharing among member states, businesses and public authorities, making it easier for local businesses, tech firms and start-ups to trade in data through a ‘single market’ that would allow them to

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compete with the US data titans, Google, Amazon, Apple and Facebook.

In a public communique, the commission outlined its concerns about the “accumulation of vast amounts of data by Big Tech companies� and hinted at further regulation to curb their power. It also wants

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to boost the adoption and development of artificial intelligence in Europe, as US and Chinese firms dominate the industry.

In a white paper, the commission outlined proposals for developing AI within Europe. Europe currently lacks a tech giant of its own to rival US firms or China's Baidu and Tencent.

As these firms deepen their hold on the increasingly vital field of artificial intelligence, Europe may lag further behind if it does not act quickly.

A 2019 report by the Center for Data Innovation found that the US had the most AI start-ups and the most capital flowing into the sector, and China has inched ahead of Europe thanks to its tech companies' unfettered access to people's personal data, fundamental to the development of AI. The center also noted that Europe is ahead on AI talent but behind in funding and adoption of AI. Europe's goal is to change this while

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The European Comm

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mission's White Paper

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balancing strict regulations around people's privacy and personal data.

The commission's white paper said that Europe “can develop an AI ecosystem that brings the benefits of the technology to the whole of European society and economy”.

It also touched on AI's potential use in healthcare, cybersecurity, agriculture and sustainability.

In addition, the commission said it would debate the growing use of facial recognition in public spaces, saying that, in many instances, it technically breaches European privacy law.

The paper said, “In order to address possible societal concerns relating 74

to the use of AI for such purposes in public places, (the commission would) launch a broad European debate on the specific circumstances, if any, which might justify such use, and on common safeguards.”

Silicon Valley executives have visited Brussels in recent weeks, ahead of the EU's proposals, to lobby lawmakers on regulation – with limited success.

Facebook CEO Mark Zuckerberg visited to discuss regulation with Vestager, Breton and other EU policymakers, with mixed results.

Google CEO Sundar Pichai and Apple's John Giannandrea also made the trip, according to The New York Times.

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Source: www.businessinsider.com

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B L O C KC H A I N

ucture Europe’s blockchain infrastr is starting to go live.

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The goal of the European Blockchain Services Infrastructure (EBSI) is to enable crossborder public services within the European Union (EU), with security and privacy. n 2018, EU member states created the European Blockchain Partnership (EBP) to cooperate and build the EBSI. Currently, the EBP has 30 signatory countries, all the EU states, as well as non-EU members, UK, Norway and Liechtenstein.

It was revealed that the first Belgian node of the EBSI recently went live.

The Belgian node was set up by internet provider, Belnet, and IT services

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company, Smals, and is now building the second EBSI node for Belgium.

The EBSI is envisioned as a network of blockchain nodes across Europe, to support use cases prescribed by the European Commission.

Currently, the EBSI has four specific use cases, each led by a member state and a user group.

Use cases include notarisation to prove data integrity, blockchain

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diplomas for trusted education credentials, European self-sovereign identity to give users control over their data, and trusted data sharing for cross-border trade, tax and other systems.

While current use cases are being developed, the EBP Policy Group is expected to announce new use cases for 2020 soon.

The Europe minimum nu European will ope

Later this year, the EBSI will become a

Discover Eva’s journey using the blockchain solution developed by the European Commission and the European Blockchain Services Infrastructure

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ean Commission operates a umber of EBSI nodes at the n level. The member states erate the EBSI nodes at a national level

Connecting Europe Facility (CEF) Building Block and provide reusable software, specifications and services to member nations and administrations.

CEF Building Blocks is an EU initiative to share digital services developed under the guidance of the European Commission.

It is planning a digital single market for all EU member nations, and 83

last year, the European Space Agency (ESA) announced it was funding blockchain firm, SpaceChain UK, which aims to build an opensource satellite network

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will save time and cost for the development of services.

The European Commission operates a minimum number of EBSI nodes at the European level. The member states will operate the EBSI nodes at a national level.

Belnet says it expects 30 other nodes to be set up by different EU members, creating a network of blockchain nodes covering Europe.

All these nodes will be capable of validating data and creating blocks.

Multiple blockchain protocols will be supported including Hyperledger Fabric to start with, as well as Spanish consortium Alastria‘s Quorum implementation of Ethereum.

The European Commission is pushing for blockchain use cases and is also investing in a few projects in member countries. A few months

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European Bank is ex digital e retail and w central ba currency ( is experime block

The European Union Science Hub recently published a report, ‘Blockchain Now and Tomorrow’, which explores numerous use cases.

And last year, the European Space Agency (ESA) announced it was funding blockchain firm, SpaceChain UK, which aims to build an open-source satellite network. The ESA recently partnered with UK firm, Hypervine, to combine satellite data and blockchain for mining and extraction activities.

Meanwhile, the European Central Bank is exploring digital euro as a retail and wholesale central bank digital currency (CBDC) and is experimenting with blockchain.

Source: www.ledgerinsights.com

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ago, it contributed €100 million for a blockchain and AI program launched by the European Investment Fund (EIF).

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IN THE SP OTLIGHT

START-UP OF THE MONTH Fintech Qonto is on a mission to dust off the old banking experience! onto is a banking alternative for freelancers, start-ups and SMEs, designed for individuals or companies of up to 250 people. In addition to basic banking services, they provide finance/ accounting solutions and expense management.

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The idea was born out of frustration.

Qonto’s co-founders, Alexandre Prot and Steve Anavi, were building their first company (Smok.io) together and were increasingly frustrated with their own banking experience.

It was not only timeconsuming and

of entrepreneurs. According to Qonto’s website, “Business banking should be efficient, attractive and affordable.”

complex, but it also didn't include modern tools to suit progressive companies. The duo decided to tackle these frustrations and to create the service they would have loved to have used as entrepreneurs.

With the aim to build the best business banking service by using technology and design, with fair and transparent pricing, Alexandre and Steve felt that SMEs had been neglected for too long and that traditional institutions had failed to propose a banking experience adapted to the needs

Qonto's versatile design adapts to all types of companies, for any legal form or team size. A fullyfledged solution, whether you are operating on your own or within a team, the business current account offers everything you need, from Mastercard business payment cards, to financial management tools.

Qonto provides all the necessary tools and integrations to master your organisation's finances, making business banking as easy as possible. Alexandre and Steve added, “We use design and technology to give entrepreneurs the banking experience they deserve.”

Founded in France in July 2017, with headquarters in Paris, the service is being expanded across Europe, with customer bases now in Spain, Germany and Italy.

For further information on Qonto, visit www.qonto.eu/en

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