Blockchain will transform digital services. This is a major opportunity to increase trust and to improve services in a wide range of industries and sectors. Many governments and companies are already exploring the potential of this technology, across sectors such as energy, healthcare, financial services, supply chain management, manufacturing, transport, education, creative industries and public services. These are just some of the sectors that will be transformed by blockchain.
Europe is well placed to seize this opportunity. With a substantial Digital Single Market of over 500 million citizens, significant investments in cutting-edge research and a robust framework to protect privacy and build trust in digital services, Europe can be a reference in setting global standards. Europe also has a recognised tradition in public private partnerships to advance innovation; through a vibrant start up community that works alongside well-established industrial players and strong public services.
Europe's leadership in the development and uptake of this new technology requires close cooperation between the public and private sectors. Governments and economic actors must work together to overcome regulatory obstacles, increase legal predictability, lead international standardisation efforts and accelerate research and innovation to support scalability of innovative blockchain technologies.
A shared vision based on cooperation between the public and private sector
The EU Blockchain Roundtable: "Bringing industries together for Europe to lead in blockchain technologies" should build support for a comprehensive EU strategy that is shared by EU industry, governments and policy makers, and aims to boost innovation and exploitation of blockchain technology.
The European Commission is already working closely with Member States within the European Blockchain Partnership. The Partnership aims to develop a trusted, secure and resilient European Blockchain Services Infrastructure meeting the highest standards in terms of privacy, cybersecurity, interoperability and energy efficiency, and fully compliant with EU law.
The ambition of the Partnership is to make this trusted infrastructure accessible to support digital services deployed by public authorities and to support cooperation with private actors.
More information on the outcome of the Roundtable.