- INATBA is establishing an Industrial Blockchain Task Force to evaluate blockchain technology projects in Europe.
- Task Force aims to improve innovation and collaboration in industrial sectors using blockchain, with a focus on VeChain.
The International Association for Trusted Blockchain Applications (INATBA) has launched a groundbreaking initiative, the Industrial Blockchain Task Force, with key industry players such as VeChain. This task force brings together experts from both the public and private sectors to assess and investigate technical infrastructure projects using blockchain technology.
The primary goal is to deliver a comprehensive report by January 2024, mapping these projects, evaluating their technical foundations, identifying synergies and addressing gaps. This status report will provide valuable insights for decision makers, promote innovation and strengthen reporting and regulatory compliance efforts across Europe.
#VeChain joins forces with industry giants such as #Siemens, #Accenture and #Fujitsu and is excited to be part of the Industrial Blockchain Task Force.
Together we drive innovation, evaluate use cases and explore the role of blockchain in the EU.
More information:… pic.twitter.com/bXTnQKT48U
— Collin Brown (@CollinBrownXRP) November 12, 2023
The core mission of the Industrial Blockchain Task Force is to empower industrial decision makers, analyzing efforts that build robust industrial products and processes, leveraging the synergy of blockchain and AI. VeChain plays an important role in this collaboration as one of the key contributors. VeChain’s expertise in blockchain technology and its applications in supply chain management and product authentication positions it as a valuable asset within the task force.
Ricardo Simoes, Executive Director of INATBA, emphasized the importance of this initiative, stating:
The launch of this Task Force represents an important step forward in facilitating EU cooperation and underlines the versatility of blockchain use in pillar industries, ensuring technological advancement in public and private sector projects.
Sebastian Becker, the initiator of the Industrial Blockchain Task Force and board member of INATBA, emphasized the importance of this endeavor for the EU’s future technology landscape and innovation discussions.
The Industrial Blockchain Task Force’s key areas of focus include evaluating existing use cases, promoting collaboration between companies and consortia, advocating standardization across major industries, and exploring the role of blockchain in upcoming EU policy goals and initiatives by through concrete results:
- Creating a corporate and consortium blockchain technology adoption map.
- Identifying advanced blockchain capabilities, technical solutions, and modules beyond the MVP stage, including token incentivization, tokenization for financing, and cybersecurity improvements through decentralization.
- Providing a coherent overview of the current status of blockchain and its suitable applications, along with suggestions for upcoming projects and sector linkage.
Task Force members will actively participate in biweekly meetings, benefit from a dynamic, cross-industry environment, access advanced blockchain capabilities, and collaborate with experts from diverse fields. VeChain’s unique insights into supply chain and product authenticity will contribute to these discussions and potentially revolutionize these areas of the industrial sector.
As utility tokens move towards regulatory compliance with MiCA in 2024, the Industrial Blockchain Task Force, with the participation of VeChain, will play a crucial role in synthesizing the possibilities of blockchain technology, especially in relation to EU policy goals and initiatives, such as digital product passports, corporate passports, Sustainability Reporting Directive (CSRD) and future ESG reporting requirements.
Key market leaders, including VeChain, manage this Task Force. For those eager to participate in this transformative initiative, now is the time to get involved with the Industrial Blockchain Task Force and help shape the future of technology integration.
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