Industry leaders and innovative startups have agreed to work together with Governments to support the development of blockchain technology. This will reinforce the chances of developing the right conditions for this technology to flourish and boost Europe’s chances of maintaining its leadership in this field.
The EU Blockchain Industry Roundtable, which took place on 20 November 2018, is an important step towards creating a European community to support the deployment of blockchain in the European Union. The new association will work closely with Member States grouped within the European Blockchain Partnership in supporting interoperability, developing specifications, promoting standards and regulatory convergence to support the development and exploitation of innovative blockchain technologies.
They were joined by Eva Kaili MEP and author of the European Parliament Blockchain report, senior industry executives and innovative startups that are developing and applying blockchain innovation to new services and products in several different areas including aeronautics, transport, financial services, energy, technology suppliers, healthcare and consumer goods.
Background
Blockchain technology could transform the world of digital services, but for Europe to lead in the development and uptake of this new technology, close cooperation between the public and private sectors will be needed. This is why the European Blockchain Partnership Committee is working together with governments and the industry to overcome regulatory obstacles, increase legal predictability, lead international standardisation efforts and accelerate research and innovation to support innovative blockchain technologies. In parallel, the legal and regulatory framework is gradually being shaped by Member States and also at European level (through the eIDAS and GDPR regulations, as well as the European Commission proposals on e-privacy). Many governments and companies are already exploring the potential of these technologies, across a wide array of sectors, such as energy, healthcare, financial services, supply chain management, manufacturing, transport, education, creative industries and public services.
One of the main goals of the European Blockchain Partnership is to develop a European Blockchain Services Infrastructure that will support the delivery of cross-border digital public services, with the highest standards of security and privacy. Blockchain technology is also a key part of the FinTech Action plan as well as of the priorities for the Digital Europe Programme proposed under the next EU long-term budget for 2021-2027.
