Applications are now open for the second cohort of the European Blockchain Sandbox.
The European blockchain regulatory sandbox for innovative use cases involving Distributed Ledger Technologies (DLT) is an initiative of the European Commission. The sandbox provides a confidential platform for innovative blockchain use cases to engage in discussions with national and EU regulators and authorities in order to enhance the understanding of novel regulatory issues, increase legal certainty and contribute to the development of best practices.
We are encouraging companies (including start-ups and scale-ups) and public entities from across the EU/EEA with innovative blockchain use cases to participate and be at the forefront of this dialogue and mutual learning experience. Applications for the second cohort will remain open until 25th Mar 2024 at 23:59 CET.
The pan-European sandbox is set up and operated by a consortium of legal experts from Bird & Bird and its consulting arm OXYGY, supported by blockchain experts Warren Brandeis (formerly WBNoDE) and by the web-designers Spindox, with use case selection verified by a panel of independent academics consisting of Professor Roman Beck (IT-University, Copenhagen), Professor Soulla Louca (University of Nicosia, Cyprus) and Professor Walter Blocher (Universities of Kassel).
The three-year initiative supports 20 projects annually, starting in 2023, and is open to use cases across the EU/EEA based on any blockchain infrastructure. Blockchain use cases will be selected based on a number of criteria, including the maturity of their business case, legal/regulatory relevance and their contribution to the EU’s wider policy priorities. Selected use cases will be matched with national and EU regulators. Further information about the selection criteria and the application process can be found on the website. Companies (including start-ups and scale-ups) and public entities with a validated proof of concept are invited to participate. Every year, the most innovative regulator participating in the sandbox will be awarded a prize.
In addition to specialist legal and regulatory advice provided by the law firm Bird & Bird, blockchain companies participating in the sandbox will have the opportunity to discuss regulatory questions that are relevant for them in a safe and confidential environment with relevant regulators/authorities. Participating regulators and authorities on the other hand, will have the opportunity to enhance their understanding of innovative blockchain solutions, discuss regulatory issues in a cross-border setting with other regulators/authorities, and contribute to the development of best practices at the intersection of innovation and regulation.
In 2023, the first cohort of twenty use cases faced a competitive applications process, following which the use cases were selected to participate across every EU/EEA region.
The Best Practices Report for the first cohort will be published in the coming weeks. Please keep an eye on the project website and social media for the announcement of this significant report, which will share the observations and lessons learned from the inaugural year of the European Blockchain Sandbox.
For a chance to participate in the second cohort, make sure you don’t miss the application deadline and please be aware of the Application Terms which are available here.
If you are interested in becoming a participant in the second cohort of dialogues, please apply here.
For more information about the use cases involved in the first cohort, click here
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