The Luxembourg competition authority (Autorité de la Concurrence) intends to investigate the prospects for mass deployment of blockchain networks in local financial institutions as well as for communication with institutions in the rest of the European Union.
According to the antitrust agency, investment in blockchain developments has now exceeded $30 billion worldwide, and by 2031 the number of users is expected to reach one billion. In this regard, management experts plan to study the competitive environment of Web3, its interaction with Web2, as well as potential methods of use.
Interbank messaging system SWIFT and blockchain solution provider Chainlink have announced
to begin a joint experiment to work on connecting financial institutions to public and private blockchain networks.