Joao Rodrigues Frade, Head of Building Blocks sector in DIGIT, recently delivered an insightful presentation at Brussels Blockchain Week. The event, held from 7 to 8 June, brought together industry leaders and innovators to explore the future of blockchain technology, Web3 regulation and tokenisation in Europe.

Joao’s talk highlighted the crucial role of Web3 and EBSI in revolutionising how governmental entities issue claims. ‘In the analogue world, official documents issued by governmental entities serve as the default pieces of evidence used by society to verify information about people and businesses,’ explained Joao Rodrigues Frade. He emphasised that while Web3 has long supported the tools that enable non-governmental entities to become token providers, the same tools can and should be embraced by governmental entities. Governmental entities are natural issuers of claims about citizens and businesses, which can be easily done in a Web3 consumable format such as Verifiable Credentials.

Can we imagine a world in which Verifiable Credentials (VCs) issued by governmental entities become 'reputation tokens' to enable Web3 ecosystems? Do governments have a role to play in bringing trust into the nascent Web3 economy? This is certainly EBSI's hope, and we will continue to explore what benefits Web3 technologies can bring to the citizens of Europe.

Read the slides of Joao's presentation for more on this topic: