Belgium’s Push for European Blockchain Infrastructure
Belgium aims to accelerate the development of a European blockchain infrastructure during its presidency of the Council of the European Union in early 2024. This push by the countryโs government is intended to make it easier to securely store official documents like driving licenses and property titles.
Four Key Priorities
Belgiumโs upcoming presidency will focus on four key priorities, including the development of a public blockchain for pan-EU infrastructure, as well as the matters of artificial intelligence (AI), online anonymity, and the skills necessary for the digital economy.
Rebooting the European Blockchain Services Infrastructure
Belgium’s Secretary of State for Digitization, Mathieu Michel, has suggested rebooting the European Blockchain Services Infrastructure (EBSI) project, established by the European Commission in 2018. He proposed renaming the renewed EBSI to Europeum, and using it for public administration tasks and to support the digital euro infrastructure.
Importance of a Public Blockchain
According to Michel, it is important to use a public blockchain developed by EU member-states, not the private alternatives, for its potential to provide security, transparency, and privacy while giving control back to the citizens over their data.
Push for Regulatory Consolidation
Progress is also being made in the process of regulatory consolidation around crypto and blockchain. In November, 47 national governments issued a joint pledge to swiftly transpose the Crypto-Asset Reporting Framework (CARF) into their domestic law systems.
Hot Take: Future of Blockchain in Europe
Belgium’s plans to push for the development of a European blockchain infrastructure are a significant step toward the integration and adoption of blockchain technology at the EU level. The potential for a renewed EBSI called Europeum, as well as the focus on regulatory consolidation, indicate the gradual but steady progress toward a blockchain-driven future in Europe.
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