Belgium Leads EU’s Blockchain Revolution: Plans to Boost Public Services and Digital Euro Adoption

According to the nation’s federal government, Belgium intends to increase the advancement of a European blockchain framework throughout its presidency of the Council of the European Union in very early 2024.

The proposition intends to help with the secure storage of official documents like driving licenses and property titles.

The development of a public blockchain for pan-EU framework is among the four priorities of Belgium’s upcoming presidency, the country’s Secretary of State for Digitization, Mathieu Michel, told Scientific research|Company on Nov. 21. The remaining 3 efforts will take on the matters of artificial intelligence (AI), on-line anonymity and the skills necessary for the electronic economy.

Michel recommends restarting the European Blockchain Solutions Infrastructure (EBSI) task, which was established by the European Commission in 2018 in cooperation with the European Blockchain Partnership, making up the 27 EU member states plus Norway and Liechtenstein:

” That is a technological job. If we want to develop a common infrastructure, it needs to end up being a European job and a political job.”

The restored EBSI would be renamed Europeum and used for public administration tasks, such as confirming driver’s licenses and other files across the EU. According to Michel, the job could also support the digital euro framework.

The authorities claimed it is important to make use of a public blockchain created by EU member-states, public alternatives:
” In regards to safety and security, transparency, and personal privacy, the blockchain can give control back to the citizen of the information that comes from them.”
Currently, Italy, Croatia, Poland, Portugal, Slovenia, Luxembourg, and Romania have actually currently enrolled in the Europeum plan. The head workplace of the project will be in Belgium.

The process of regulatory debt consolidation around crypto and blockchain is relocating gradually. In very early November, 47 national federal governments provided a joint pledge to “quickly shift” the Crypto-Asset Reporting Framework (CARF)– a brand-new global requirement on automated exchange of information between tax authorities– right into their domestic regulation systems.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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