EU member states and Norway signed up to created a European Blockchain Partnership(EBP). 22 countries are signatories of EBP as on April 10,2018. However, another five countries including Denmark, Romania, Greece, Italy and Cyprus have joined the league in September. This shows that Europe is getting serious about distributed ledger technology.
EBP signatories committed themselves to “cooperate in the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of security and privacy.”
The main intent of EBP to develop and incorporate Distributed Ledger System(DLS) is to make cross-border services more efficient. This could include logistics and regulatory reporting. EDP proposed its aim to make European Blockchain Services Infrastructure international “gold standard” for large-scale DLTs.
The European Commission’s head of Digital Innovation and Blockchain Peteris Zilgalvis explains:
“The Partnership’s mission is defined in the Joint Declaration and it is on that mandate that we have to deliver before the end of the year. In the Joint Declaration the signatories committed to working together and with the European Commission in order to develop an EBSI that can support the delivery of cross-border digital public services in Europe. So the description of what this services’ infrastructure [EBSI] could look like is what we are currently working on.”
EDP met for three time this year since its inception. In the latest meeting the main topic of discussion was to discuss about the most prominent cross-border blockchain use-cases.Further, EDP plans to meet thrice, monthly, by the end of this year.
Even if the outcomes of EDP are left to speculation, it gives promising future to blockchain technology in Europe. EDP made a statement stating:
“These deliverables [functional and technical specifications, governance model] will be addressed to the political representatives who signed the Declaration, and if approved, the Partnership could move into implementation mode in 2019.”
If approved, EDP will develop cross-border infrastructure and lead to wider adoption of blockchain. Hence, we can comfortably conclude that the future of blockchain and DLT is bright.