Establishing the second cohort of the European Blockchain Sandbox has been an eventful, thorough, and inspiring process. From an intensive applications period, which saw great interest from across the EU/EEA, to a rigorous selection process and matching of use cases with relevant regulators/authorities, the Project team worked hard to ensure the Sandbox was populated with innovative use cases with a broad range of relevant regulatory topics, able to generate best practices to benefit the broader Blockchain community.
Having the opportunity to witness such wide-ranging innovations in the Blockchain space across the EU/EEA has been extremely encouraging, and we would like to thank all those who took the time to apply for the second cohort of the European Blockchain Sandbox.
We are now delighted to announce the use cases which have been selected for the second cohort of the European Blockchain Sandbox
One use case of the European Blockchain Services Infrastructure has been approved by the EBP for participation in the lot for public entities, and 19 additional use cases were selected in accordance with a carefully curated selection process. The selected use cases span all EU/EEA regions and represent a wide range of industry sectors and regulatory topics. We are pleased to share with you these use cases (where applicable with their consortium partners) below:
- PROSPEH, poslovne storitve in digitalne rešitve, d.o.o.
- Infineon Technologies AG
- NYALA Digital Asset AG
- Circularise B.V.
- IOTA Stiftung
- EastNets Europe S.A.
- Stichting 2Tokens
- Brickken PFP, S.L.
- ReLOG3P SRL
- PlanDail Ltd, Operating as Trrue Ltd
- Doxychain
- VERAG Spedition AG
- REClosure
- Kunveno Teknologos
- IoT Nederland BV
- HACEN OÜ
- DigiShares A/S
- Konnecta Systems IKE
- EBSI Verifiable Credentials Use Case
Please note that the full list of use-case descriptions can be found in the annex below for your information.
The matching process for this first group of 20 use cases is nearing completion and the confidential regulatory dialogues are about to begin. At the conclusion of these dialogues, a best practices report will be published.
Congratulations to all the selected use cases and welcome to the Sandbox. Please be advised that eligible use cases who have not been selected for the 2024 cohort, or use cases who have not had the opportunity to apply, are welcome to apply for the third cohort, in early 2025.
Use case | Description |
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PROSPEH, poslovne storitve in digitalne rešitve, d.o.o. | OriginTrail is an ecosystem building a Verifiable Internet for AI, providing an inclusive framework that tackles the world's challenges in the AI era, such as hallucinations, bias, and model collapse, by ensuring the provenance and verifiability of data used by AI systems. Having been put to use for a spectrum of solutions, including deployments by Fortune 500 companies, it tackles misinformation by enabling discoverability, verifiability and ownership of Knowledge Assets with its Decentralized Knowledge Graph (DKG). The OriginTrail DKG is an open, permissionless decentralized network of knowledge graph nodes integrated with multiple blockchains, such as Ethereum, Polygon, Gnosis Chain, and Polkadot. It is a core component of the verifiable internet infrastructure enabling AI solutions to leverage its discoverability, verifiability, and ownership capability. Its core resources are Knowledge Assets, organized in DKG Paranets together with knowledge services. Using the Decentralized Retrieval-Augmented Generation (dRAG) framework, OriginTrail enhances AI models with verified information from decentralized sources, ensuring accurate and reliable AI-generated content. dRAG advances the RAG model by organizing external sources in a Decentralized Knowledge Graph while introducing incentives to grow a global, crowdsourced network of knowledge made available for AI models to use. OriginTrail is used by global leaders like the British Standards Institution, Swiss Federal Railways, Supplier Compliance Audit Network (SCAN), representing over 40% of US imports and several consortia funded by the European Union among others. Advised by Turing award winner Dr. Bob Metcalfe, renowned for his law of network effects, the Trace Labs team (OriginTrail core developers) plays a crucial role in promoting a more inclusive, transparent, and decentralized AI. |
Infineon Technologies AG | Infineon proposes a solution to the blockchain's 'oracle problem' in providing trustworthy data feeds from IoT edge devices, such as sensor nodes. Problem background
High level approach
Result Ultimately, relying parties can verify that edge device identities are authentic and that data has not been manipulated during either edge processing or transmission. In addition, relying parties may examine smart-contract based audit policies and source code deployed to edge devices. In result, applications based on new standards such as the digital twin (ISO) and the asset administration shell (IEC), as well as new EU regulations like eIDAS-2 and the digital product passport (ESPR), may consume a data feed that can be verified for its trustworthiness. |
NYALA Digital Asset AG | NYALA Digital Asset AG operates a Digital Asset Platform, which serves as an infrastructure layer for the issuance, registration, and custody of tokenized securities. With our regulated subsidiary, a crypto-securities registrar, we have repeatedly issued tokenized financial instruments over the past 18 months and have realized the first tokenized As one driver to solve the funding gap in the EU, with a focus on SME financing and renewables projects, we are now shaping our digital asset ecosystems into one holistic Our vision for the secondary market is to integrate the entire securities value chain within a single unit and to facilitate seamless trading and settlement processes. For this we partner with an existing MTF to conduct trading off-chain and serve as the settlement infrastructure on-chain. To enable DVP and automated dividend payments, we are |
Circularise B.V. | With the increasing regulations (e.g. ecodesign directive, Digital Product Passports (DPP), Corporate Sustainability Due Diligence) the need for data sharing is evident. However, companies are hesitant to share data, given the threat of its sensitive data being exposed. Circularise appears as a solution to the traceability challenge faced by value chains from multiple industries. Our platform harnesses groundbreaking and patented encryption technology to secure data across the supply chain in a way that's safeguarded against even the most advanced cyber threats. Circularise provides a tool to securely share sensitive information among value chains. Suppliers can create DPPs, and share key data with their customers, without endangering their Intellectual Property and competitive advantage. For example, do you share the full information or only whether it surpasses a certain threshold? Do you share the same data with your customer as with your auditor? These are challenges Circularise’s software solves through its Smart Questioning technology, based on blockchain and zero-knowledge proofs. If an Original Equipment Manufacturer (OEM) seeks to comply with a regulation, they will need data. For example, they need to ensure that there is no Bromide on their products. Using the Circularise system, an OEM can trigger a data request deep into the different tiers of its supply chain. The system connects data that exists decentrally across different supply chain steps and makes it available to the Brand owner. The patented technology ensures that the exact data input will not be visible to all other actors, but rather an answer to the question of whether the component contains or not bromide, or even if the percentage is lower/greater than or in between some values, enabling the OEM to check its compliance with regulations. Moreover, if the OEM needs information on a new chemical, they can send a data request through the Circularise’s system along the value chain, to know if they meet the requirements. The information could be about sourcing, chemical composition, technical properties, environmental assessments, and others, that support compliance or even specific OEM supplier requirements. Additionally, the data shared within the Circularise is reliable through its verifiable DPPs. These provide a publicly verifiable trail ensuring consistency, authenticity and integrity for claims about subjects, identified by their relation to a reference subject while ensuring privacy beyond the veracity of the claims. Notably, it achieves this without depending on a single central authority or auditors for trust in the consistency of narratives, balance checks, evident changes, etc. All this is possible while maintaining the confidentiality of the sensitive information.
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IOTA Stiftung | About IOTA Since 2015, the IOTA project has developed open-source software, focusing on next-generation decentralized technology that promotes transparent, secure, and ethical practices in the digital space. Key Entities driving the project
IOTA Token
IOTA Product Suite
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EastNets Europe S.A. | SafeWatch Screening ChainFeed - An Eastnets SafeWatch Screening Module Updating the watchlists that underlie compliance screening systems is of paramount importance to your counter-terrorism and anti-money laundering strategy. Yet conventional watchlist-update methods involve manual, time-consuming steps, tying up resources and leaving banks vulnerable to delays, errors, and fraud. SafeWatch Screening ChainFeed from Eastnets uses distributed-ledger blockchain technology to eliminate these risks and complete watchlist updates automatically and in real time. SafeWatch Screening ChainFeed Closes the Gaps in Your Sanction Screening Strategy
Eastnets Approach to Real-Time Sanction List Updates
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Stichting 2Tokens | Hosted Wallets Services for non-crypto-asset / non financial related tokens The use case involving the 2Tokens consortium, along with Amdax, Celebratix, Custodiex, Metaseum, TDE (OnYourMarks), and CMS, pertains to the unclear regulatory status of hosted wallet services for tokens that are neither financial products nor crypto-assets as defined under MiCAR. Tokenization, commonly associated with crypto-assets, also has numerous applications beyond financial products and services. Companies like Celebratix, Metaseum, and TDE utilize this technology to provide non-financial and non-crypto-asset tokens, such as concert and museum tickets, proof of attendance tokens, and fan engagement points, in their services. Typically, their clients are unaware that Distributed Ledger Technology (DLT) powers these offerings. By incorporating wallets into their applications, often through hosted wallets, these companies effectively provide hosted wallet services for tokens unrelated to financial or crypto-assets. Although the primary service of these parties is related to non-financial or non-crypto-asset tokens, the integrated wallets can technically receive, hold and transfer crypto-assets. Also in the transfer of the tokens they are offering it is very well possible that they need to have cryptocurrency in thosehosted wallets to pay transaction fees. In this way, Celebratix, Metaseum and TDE, could be seen as CASPS while their tokens are not crypto-assets nor financial product related. This situation could lead to significant regulatory and operational costs, potentially making it unfeasible for these companies and others in the industry to compete with non-blockchain/DLT competitors. Such a scenario poses a substantial threat to all use cases involving non-crypto-asset and non-financial product tokens. The consortium partners Amdax and Custodiex offer regulated hosted wallet / custodial services. Through this use case, they jointly want to explore if white label hosted wallet services can be offered, e.g. in a light regime, or exemptions for non-crypto-asset tokens are possible so these companies can offer their services level playing field. If not, although products are alike, based on technology, non-crypto-asset companies using tokens are under regulatory oversight but their competitors who use other technologies are not. |
Brickken PFP, S.L. | Overview: Highlights:
Advantages:
Strategic Importance:
Conclusion: Brickken's Digital Asset Platform revolutionizes how companies tokenize and manage RWA’s by offering a secure, transparent, and efficient tool that aligns with companies' new financial needs.This platform not only simplifies investments but also opens new avenues for growth by allowing companies to operate on a global scale with minimal operational costs. |
ReLOG3P SRL | WHO ReLOG3P (https://relog3p.com) is an Innovative Startup and Benefit Corporation based in Italy offering highly innovative, new-to-market products and services that provide support for the Global Trade (freight Logistics, Supply Chains, Mobility and Transport industries, end-to-end, including last/first mile and Smart Cities) to contribute, among others, achieving the UN Agenda 2030 and its Sustainable Development Goals as well as the EU objectives set by the Green Deal, Fit for 55% Package, Sustainable and Smart Mobility Strategy, Digital Strategy. Morpheus.Network (https://morpheus.network/) is a Canadian Company intensely focused on helping companies and Government organizations remove barriers to digitize, optimize and automate their global supply chain operations, helping clients maximize revenue through digitization and process automation, protecting sensitive data, and untangling complex issues with the legacy supply chain system while delivering effective, equitable, and efficient global trade solutions. WHAT A fully automated Certificate Management System for the Global Trade dominium (Logistics, Mobility, Smart Cities) and, specifically, for the food and agricultural industries. Furthermore, our use case is to be considered built in a fully modular and scalable way, so to allow multi-industry (supply chain) agnosticity and applicability. HOW A self-service portal (cloud-based access point / portal with login credentials for each user/entity) is paired with an integrated document handling database to enable simple collaboration between various stakeholders to exchange, sign and validate documents. Digital documentation tools (OCR, uploaders, etc.) are used to digitize certificates and can integrate with signage solutions like Docusign to create a digital sign-off process. When a document is uploaded to the platform, it receives a decentralized UID saved to our Ethereum and Hyperledger blockchain backend that includes a timestamped log of creation, author, access, signage trail and revisions, creating provenance and trust in data between multiple parties, using IPFS, creating an immutable verification trail of documents along queriable data (e.g. certificate number, date, creator, etc.), guaranteeing that it won't be changed or altered in any way - complete confidence in certificates for sensitive areas like food, pharma, etc. BENEFITS
Furthermore, automate inbound and outbound processes by enabling real-time tracking and data exchange between key stakeholders with digitized documents. Reduce supply chain operating costs such as delays, fines, SLA, rework and reverse logistics and allow for faster stock turn, accounts receivable turnover and reduced working capital requirements.
Above all, but not limited, the streamlining of the processes will translate itself into:
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PlanDail Ltd, Operating as Trrue Ltd | Trrue’s mission is to optimise fundraising for impact investment projects by reducing friction and ensuring regulatory compliance using a range of innovative features, primarily architected on blockchain technology. By providing innovative solutions that are faster, more secure, and more cost effective than traditional fundraising systems, Trrue is helping to unlock the potential of responsible impact investing for ESG-positive projects and investors. Trrue is committed to the creation of Trrue Chain – the foundation of an expansive ecosystem built to maintain ethical standards and ensure rigorous regulatory compliance. The Trrue Chain blockchain implements a governance protocol that ensures that all on-chain data is verified by a network of trusted and reputable players. This provides the benefits of distributed computing without sacrificing scalability of the system, as well as retaining traditional legal relationships for regulatory compliance. The node is built with Polkadot Substrate and Cumulus, enabling interoperability between blockchains so that, unlike other RWA protocols, the Trrue infrastructure can truly bridge traditional financial markets with the entire Web3 landscape. Trrue is addressing the greenwashing problem, which appears rampant in the financial services sector, while making sure these EU/EEA under development and developed-and-scaling companies with impact solutions get the support they deserve. With a view to upcoming regulations, Trrue has taken a hybrid approach to building new, more sophisticated digital asset tools. We see a new era of digital assets to enable support to impact entrepreneurs. Trrue is part of the Polkadot Alpha program, and the GFIN UK FCA Greenwashing Sandbox, in collaboration with UK FCA, Dubai FCA and Taiwan FCA. |