Belgium's blueprint for European blockchain innovation: EU presidency 2024

Belgium is set to champion the advancement of a European blockchain infrastructure during its upcoming presidency of the Council of the European Union in early 2024. The initiative aims to expedite the creation of a public blockchain, named Europeum, for pan-EU purposes. The renewed project, proposed by Mathieu Michel, Belgium’s Secretary of State for Digitisation, seeks to enhance the secure storage of official documents like driving licenses and property titles.

Europeum: A transformative venture

The proposal suggests revitalising the European Blockchain Services Infrastructure (EBSI) project, initially established by the European Commission in 2018. Europeum would serve public administration functions, including the verification of driver’s licenses and other documents across the EU. Michel emphasises the importance of utilising a public blockchain developed by EU member states, emphasising control, security, transparency, and privacy for citizens.

Growing support for Europeum

Italy, Croatia, Poland, Portugal, Slovenia, Luxembourg, and Romania have already committed to the Europeum plan, positioning Belgium as the project's headquarters. The initiative aligns with broader efforts as the regulatory landscape for crypto and blockchain undergoes consolidation. In a joint pledge, 47 national governments expressed their commitment to swiftly incorporate the Crypto-Asset Reporting Framework (CARF) into domestic law systems, emphasising the international standard for the exchange of information between tax authorities.

Building a common European infrastructure Michel envisions the Europeum project not only supporting administrative tasks but also playing a crucial role in the development of the digital euro infrastructure. The focus on creating a common European blockchain infrastructure reflects a shift towards collaborative, political, and technical efforts, setting the stage for a transformative digital future in the EU.