The European Investment Fund (EIF) and the European Commission will create an investment fund that will allocate funds to projects specializing in blockchain and artificial intelligence. It is reported by Sifted.Organizations have already allocated € 100 million (over $ 110 million) for this purpose. It is expected that another € 300-400 million will go to the fund from private investors next year. Moreover, in the future, the assets of the fund may grow to $ 1-2 billion.“Investing in a portfolio of innovative AI and blockchain companies will help create a dynamic community of investors in the EU” EIF representatives emphasized.According to the publication, the EU’s spending on blockchain-related initiatives this year will amount to $ 674 million. At the same time, the bulk of the money is spent on research and proof-of-concepts.For comparison, the corresponding costs of the United States this year will be $ 1.1 billion, and China - $ 319 million.ForkLog previously reported that South Korean authorities plan to invest 450 billion won (~ $ 382 million) in the research and development of blockchain technology.