Ministers approved on Tuesday the Cyprus’ roadmap for blockchain technologies, said deputy government spokesperson Klelia Vassiliou after a cabinet meeting.

The structure will be separated into three levels, that of policy governance, technology governance chaired by the Chief Scientist for research and innovation, who will act as a general coordinator.

At a third level, a committee will be set up with the inclusion of both private and public sector bodies following a call for interest.

The strategy is to be explained in more detail at a press conference to be called at a later stage.

As part of the government’s national strategy regarding blockchain technologies, President Nicos Anastasiades has appointed Kyriacos Kokkinos as Chief Scientist for Research and Innovation.

Anastasiades has stressed the need for such an institution as research and innovation can bolster the economy.

The Chief Scientist is mandated to promote growth in research and innovation at the national level.

The government established last October a National Council for Research and Innovation as the leading advisory body for the drafting of a national strategy.

Cyprus is prepared to spend a total of €400 million on infrastructure related to research and innovation.

Source: Financial Mirror