The European Matrimony is reportedly looking to bolster technological development in the region with a planned $177 billion investment war breast.

According to Bloomberg, EU officials plan to fund directly investments in areas like blockchain, data infrastructure, 5G, and quantum calculating, among others.

The planned $177 billion investment fund is nearly 20% of the 750 billion euros ($887 billion) stimulus bundle agreed upon by European union leaders back in July 2022 to kickstart economic recovery amid the ongoing COVID-19 pandemic.

Speaking on Wednesday, Ursula von der Leyen, President of the European Commission, stressed the importance of investing in digital technology for the entire region.

Indeed, part of the investment fund will go towards the manufacture of depression-power processors as European union officials seek to prevent a recurrence of the semiconductor shortage that affected several industries worldwide.

While the EU has revealed its focus areas for the $177 billion technology investment fund, at that place is no data on the amount to be invested in each sector.

Related: Survey finds Europeans desire domicile countries to regulate crypto, not EU

Earlier in September, the Iota Foundation, along with vi other companies, was chosen to back up the early-stage evolution of the European Blockchain Services Infrastructure — an Eu-wide distributed ledger technology projection.

Back in Apr 2022, the EU launched the International Clan of Trusted Blockchain Applications, which is tasked with supporting and promoting DLT adoption in the region.

Indeed, blockchain has been identified as one of the more important emerging technologies that could shape Europe's hereafter. Because of this, EU officials are pushing for region-broad legal standards to forbid regulatory fragmentation.

Withal, a contempo survey has indicated that a majority of Europeans prefer national regulations for crypto and blockchain rather than a European regulatory standard for the emerging manufacture.

Meanwhile, the Eu and the U.s.a. may soon begin to collaborate in the area of drafting standards for crypto and blockchain regulation.