Europe Embraces Blockchain Technology for Administrative Simplification
Europe is considering the adoption of blockchain technology to streamline bureaucratic processes across its 27 member countries. In 2024, the European Commission will actively promote sustainable technology applications, including distributed ledger technologies, with the aim of driving innovation and responsible usage. The ultimate goal is to enhance administrative efficiency, attract more businesses, and improve crisis management.
Allocating Funding for Digital Services and Administration Digitization
The EU has allocated a substantial €11.2 billion for digital services, business digitization, and public administration digitization. This funding is part of the larger €39 billion budget dedicated to the EU’s broader digital transition agenda.
Promoting Digital Identity Wallets and Collaboration
An important objective is to provide EU citizens with a secure digital identity wallet for storing administrative data. The European Commission is also encouraging member states to join the European Digital Infrastructure Consortia, which are political groups committed to advancing the bloc’s digital agenda.
Creating an EU-Wide Blockchain Service Infrastructure
The EU is in the final stages of developing an EU-wide blockchain service infrastructure under the management of public authorities. This initiative aims to unite blockchain communities across Europe and facilitate collaboration.
Enhancing European Administrative Space
The Commission has implemented a new Communication on Enhancing the European Administrative Space (ComPAct), which proposes actions to equip public administrations with necessary tools to meet the needs of people and businesses across Europe. This includes modernizing national administrations, strengthening cooperation, enhancing digital capacity, and promoting green transformation.
Hot Take: Europe’s Blockchain Push for Streamlined Administration
Europe’s embrace of blockchain technology as a tool for administrative simplification marks a significant step towards digital transformation. By leveraging distributed ledger technologies, the European Commission aims to enhance efficiency, attract businesses, and improve crisis management. The allocation of funding for digital services and administration digitization underscores the EU’s commitment to embracing sustainable technology applications. With the creation of an EU-wide blockchain service infrastructure, collaboration among blockchain communities across Europe will be facilitated. This move towards enhanced cross-country cooperation and modernized national administrations is a crucial step in the continent’s journey towards a more streamlined and efficient administrative landscape.
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