VeChain joins the Industrial Blockchain Task Force with major industry players

• VeChain joins INATBA Task Force with Siemens, Accenture and more.
• The task force will focus on technology projects for the EU’s progress.
• Together they will influence regulatory compliance and standardization.

The International Association for Trusted Blockchain Applications (INATBA) has initiated the creation of the Industrial Blockchain Task Force. This innovative consortium includes a powerful line-up, with big names such as Siemens, Accenture, Fujitsu and VeChain.

Their goal is to revolutionize innovation in the sector, evaluate practical use cases and explore the central role of blockchain in the European market. The task force, established by INATBA, aims to bring together experts from both the public and private sectors.

These collective minds will delve into technical infrastructure projects that deploy blockchain technology, analyzing and discussing their technical foundations. The ultimate goal is to produce a comprehensive report by January 2024, mapping these projects and identifying areas of synergy and potential gaps in their technological underpinnings.

Ricardo Simoes, the Executive Director of INATBA, expressed the importance of this milestone and highlighted its role in promoting EU cooperation and strengthening the application of blockchain and AI in vital industries.

Above all, the initiative aims to empower industrial decision makers and drive innovative plans that leverage blockchain and AI technologies, addressing the convergence of both into resilient industrial products and processes.

Sebastian Becker, board member of INATBA and initiator of the Task Force, praised the involvement of major European companies and the European Commission, highlighting the impact of the status report on future EU policy objectives and the evolving technical landscape.

The Task Force will meet regularly to promote cross-sectoral dialogue and innovation. Key areas of focus include assessing current use cases, advocating standardization across major industries, and exploring the role of blockchain in EU policy objectives such as the Corporate Sustainability Reporting Directive and upcoming ESG reporting requirements.

As the Task Force moves towards regulatory compliance in 2024, the group’s insights will significantly shape the EU’s technical landscape, promoting a dynamic and standardized approach to blockchain applications across major industries.