As Belgium will soon hold the EU Presidency in 2024, it has decided to expedite a blockchain infrastructure project for its many uses.
A politician from Belgium recently informed about the country’s plans for a blockchain infrastructure project. He said it was a part of the country’s plans after it takes over the EU Presidency in the upcoming year. Mathieu Michel, who is serving as Belgium’s Secretary of State, was quoted speaking about it in recent reports.
“A lot of countries are working on applications based on the blockchain; it would be a good idea to build them on a common infrastructure. But it has to be on a blockchain which is managed by the government,” said Michel. The particular project Belgium hopes to revive is the European Blockchain Services Infrastructure (EBSI) project. The European Commission set it up in 2018 but hasn’t progressed much since then.
Authorities would attempt a few blockchain use cases that include document traceability, SME financing, and recognition of diplomas. Meanwhile, the Secretary of State said the project was technical and did not lean to be political.
Belgium will rename the project as Europeum. The project will also support applications of the digital euro while driving other blockchain use cases like driving licenses and tax declarations as well. In other words, it could help in crypto adoption in the EU.
Michel was highly bullish regarding the project. He claimed the project would be responsible for empowering citizens by giving them the power for their data. He also revealed they were also in talks with international governments for cooperation. A few European countries have already signed up for it.
The European Digital Infrastructure Consortium (EDIC) framework will structure the project. Crypto adoption in the EU has been at the forefront. Trends in Europe for crypto have been broadly positive. On the other hand, authorities have actively enacted rules for crypto, stablecoin issuers, and others.
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