In liaison with the European Blockchain Partnership (EBP) and the European Blockchain Services Infrastructure (EBSI) initiative, the EC is launching a regulatory sandbox for blockchain and decentralized data solutions. The European Blockchain Regulatory Sandbox will provide a pan-European experimentation framework for innovative technology solutions involving blockchain and DLT. This will help increase legal certainty for future services, which relies on a convergence of innovative technologies.
The Decentralised Digital Economy is gaining traction all over the world. This new iteration of the World Wide Web known as Web 3.0, combines innovative technologies such as distributed ledgers/ blockchains to achieve decentralization, cryptography to enhance privacy and trust, smart contracts to achieve transparent rules and common APIs associated with business-driven policies to achieve interoperability. Web 3.0 is developing as an alternative paradigm to the current platform-based Web 2.0 model.
The European Blockchain Services Infrastructure (EBSI), is a multi-country project, governed by the European Blockchain Partnership regrouping all EU Member States, Norway, Lichtenstein, and Ukraine as observer, in cooperation with the European Commission. EBSI is the first pan-European, public-driven initiative of its kind, tapping into blockchain's tamper-evident, immutable and decentralised properties to support better public services for all Europe. The blockchain ledger can be used to store information in a trusted, decentralised way, allowing for new forms of verification, traceability and transparency for citizens and enterprises.
It supports in particular the exchange of diplomas or other education credentials in a way which make them easy to verify and extremely difficult to fake or hack. It provides also solutions for anti-counterfeiting or the implementation of Digital Passport Product that can be used in support of the EU green agenda.
Topics of the day:
- Introduction: The EU vision and actions for blockchain [the EU blockchain strategy]
- The European Blockchain Service Infrastructure (EBSI) - the way forward illustrated with:
- Exchange of education credentials for the year of digital skills;
- Tracking and tracing products in support of EU policies.
- The European Blockchain Regulatory Sandbox