Blockchain is a new technology that makes it possible for large groups of people or organisations who may not know or trust each other to collectively agree on and permanently record information without the need of a third-party authority. By creating trust in data in ways that were not possible before, blockchain has the potential to revolutionise how we share information and carry out transactions online. The EU believes that blockchain technology when properly used can provide significant benefits to European industry, the European economy, and to European society as a whole. For this reason, the European Commission is supporting blockchain on the policy, legal and regulatory, and funding fronts.

Visual with a map of europe resembling a blockchain

The EC blockchain strategy in a nutshell

The most significant elements of the EC’s blockchain strategy include:

  • Developing joint visions and initiatives through a European Blockchain Partnership harnessing national blockchain efforts into a pan-European approach.
  • Building a pan-European government services blockchain: The European Blockchain Partnership commits the European public sector to play a trailblazing role in blockchain by building its own blockchain backbone infrastructure for cooperation across borders – the European Blockchain Services Infrastructure (EBSI).
  • Promoting legal certainty: The European Commission is proposing a comprehensive pro-innovation legal framework in the areas of digital assets and smart contracts.
  • Increasing funding for blockchain innovation: The EU provides funding for blockchain research and innovation both in the form of grants and by supporting investment in startups.
  • Supporting interoperability and standards: The EC believes strongly in the importance of standards in promoting blockchain technology and looks to engage with all relevant bodies globally.
  • Supporting blockchain skills development: The EC supports initiatives focused on blockchain education in order to ensure the high level skills that are needed are available.
  • Interacting with the community. The EC interacts with the private sector, academia and the blockchain community primarily through bodies like the European Union Blockchain Observatory and Forum and the International Association of Trusted Blockchain Applications (INATBA).

Where can I find more information?