Blockchain
The European Blockchain Services Infrastructure (EBSI) is launching a publicly accessible blockchain platform in collaboration with Norway and Liechtenstein.
The regulated and permitted blockchain will transform data management with its security and transparency.
JUST IN: EU is developing its own official Blockchain. During its European presidency in 2024, Belgium wants to convert the technical project of EBSI into political projects, according to a minister.
— Crypto Research Group (@CRG_crypto) May 9, 2023
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To promote blockchain adoption across the European Union (EU), the new initiative will see Germany, Europe’s largest economy; and the Netherlands operate three and four interchanges respectively. Meanwhile, France and Italy will each have two.
The initiative has already made significant progress as it focuses on chain verification of university certificates.
Belgium’s Digital Affairs Minister, Mathieu Michel, said the initiative is just the beginning as they aim to promote digital inclusion across the EU.
“EBSI is a project that currently exists, but that is the start of something. There are a number of small applications that are trying to create a proof of concept.”
Michel also stressed the importance of trust and regulation in the broader blockchain ecosystem. He noted that cryptocurrencies serve much more than just currencies. According to him, tokens can represent ownership of documents, credentials and proprietary rights, while also protecting privacy.
As the EU presidency rotates between member states every six months, the current president can set agendas and prioritize.
The Belgian EU presidency will start in 2024. Then the initiative can be used as a political initiative.
More than an everyday initiative
The proposed blockchain platform is expected to bring more transparency, security and trust to the digital economy that the EU wants to build.
Analysts agree that this project is not just another run-of-the-mill blockchain initiative. Instead, it has the potential to establish a robust continental-level digital infrastructure.