Europe Gets Serious About Blockchain by Forming an Alliance of Member States

On the 10th of April this year, some EU member states alongside Norway signed up to create the European Blockchain Partnership. These initial Eu member states are France, UK, Germany, the Netherlands, Ireland and Sweden. They agreed to work together in the creation of a European Blockchain Services Infrastructure (EBSI) which will help support the delivery of cross-border digital public services whiles provided highest standards of privacy and security.

Since the establishment of this group in April, five more countries have joined the partnership with Italy being the latest addition after the country signed the partnership declaration just this September. Being a member of the Blockchain coalition, Italy has committed itself as a sovereign entity to help in identifying “an initial set of cross-border digital public sector services that could be deployed through the European Blockchain Service Infrastructure.”

The member states believe that forming a partnership that brings Distributed Ledger Technology (DLT) to European infrastructure, cross-border services such as those related to logistics and regulatory reporting will become safer and more efficient. The association is hoping to make the European Blockchain Services Infrastructure (EBSI) an international “gold standard” for large-scale DLT adoption.

At the moment, the partnership mission is still being developed however it is all aimed at the development of a cross-border, Blockchain-based public service consortium. Peter Zilgavis, the European Commission’s head of Digital innovation and Blockchain says that;

“The partnership’s mission is defined in the Joint Declaration and it is on that mandate that we have to deliver before the end of the year. In the Joint Declaration, the signatories committed to working together and with the European Commission in order to develop EBSI that can support delivery of cross-border digital public services in Europe. So, the description of what this services’ infrastructure (EBSI) could look like is what we are currently working on.”

The EU’s head of Digital Innovation and Blockchain statement points to the fact that this partnership is still in its very early stage as such members are still working on deciding which Blockchain-based public services to develop.