Belgium’s Ambitious Blockchain Vision
The Belgian government has boldly stepped forward to lead the European Union’s push towards a technologically advanced future. Their latest initiative involves rejuvenating the European blockchain infrastructure, aligning with their presidency of the EU Council in early 2024. This move underscores Belgium’s commitment to driving digital innovation within the EU.
The Europeum Initiative
At the heart of Belgium’s strategy is the transformation of the European Blockchain Services Infrastructure (EBSI), a project originally launched in 2018. Under the new banner of ‘Europeum’, Belgium aims to create a cohesive and secure platform for managing essential public documents, such as driving licenses and property deeds, across all EU member states.
Focusing on Public Blockchain
One of the key aspects of this project is Belgium’s decision to rely on a public blockchain developed by EU countries. This contrasts with private blockchain alternatives and is expected to offer improved security, transparency, and privacy. Belgium’s Secretary of State for Digitization, Mathieu Michel, emphasized the role of blockchain in empowering citizens with greater control over their personal data.
A Pan-European Effort
The Europeum project is not just Belgium’s endeavor but a collaborative effort involving 27 EU member states, along with Norway and Liechtenstein. Several countries, including Italy, Croatia, and Portugal, have already pledged support for this initiative. This broad commitment reflects the growing importance of blockchain technology in public administration and the digital economy.
Belgium as a Digital Leader
Hosting the project’s head office, Belgium is set to become a central figure in the EU’s digital landscape. This leadership role in the blockchain sector aligns with the global trend towards more stringent regulation and oversight of digital assets, including cryptocurrencies.
The Broader Global Context
Belgium’s initiative comes at a time when regulatory frameworks for digital assets are becoming a global focus. The recent adoption of the Crypto-Asset Reporting Framework (CARF) by nearly 50 countries is a testament to this trend, aiming to streamline the exchange of information between tax authorities and regulate the digital asset market.
Belgium’s proactive approach in reshaping the EU’s digital infrastructure, particularly through the Europeum project, positions it as a key player in the global digital economy.
