Blockchain infrastructure project in the European Union will be Restarted by Belgium
While the nation holds the presidency of the EU Council, its government intends to speed up the creation of a blockchain infrastructure across Europe.
In early 2024, while Belgium is presiding over the Council of the European Union, the country’s government intends to speed up the creation of a blockchain infrastructure throughout Europe. Secure document storage, including driver’s licenses and property titles, is the primary goal of the project.
Michel proposes reviving the EBSI initiative, which was launched in 2018 by the EU in conjunction with the European Blockchain Partnership, which includes all 27 member states of the EU plus Norway and Liechtenstein:
“That involves a lot of technical work. It must become a political and European undertaking if we are to construct a shared infrastructure.”
For public administration purposes, such as the EU-wide verification of driver’s licenses and other papers, the reborn EBSI would be known as Europeum. It is possible, says Michel, that the initiative could strengthen the digital Euro infrastructure as well.
Portugal, Slovenia, Italy, Poland, Croatia, and Romania are among the current participants in the Europeum plan. The project’s headquarters will be located in Belgium.
Regulators are gradually coming together to address crypto and blockchain. A new global standard for automated transmission of information between tax authorities, the Crypto-Asset Reporting Framework (CARF) was “swiftly transposed” into domestic legal systems by 47 national governments in early November.
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