The European Parliament approved the Digital Decade policy program, which aims to assist businesses and government agencies in digitizing their operations and developing a “pan-European blockchain-based infrastructure.”
EBSI takes EU crypto to the next level
As the European Union (EU) successfully passed a vote on its blockchain infrastructure policy on Thursday, November 22, 2022, it moved forward with its plans. Earlier this month, the European Parliament approved a policy program to help public services digitize their activities 529 to 22. As part of the Digital Decade policy program, investments in a cross-border blockchain infrastructure are planned.
There are a number of large-scale, “multi-country projects” outlined in the document, covering topics such as building a common data infrastructure, investing in high-performance computing, and implementing 5G internet corridors.
EBSI’s significance to the future of the EU
The EU introduced MiCA to ensure regulatory clarity for the crypto industry; however, MICA’s implementation may be delayed until 2024. As a result of this new move from the EU, countries that are part of the union will have stronger leverage when it comes to the advancement of technology and crypto across the board.
As part of the European Blockchain Service Infrastructure (EBSI), all EU member states are participating along with Norway, Liechtenstein, and Ukraine. In 2018, the European Commission established the European Blockchain Partnership and the European Blockchain Initiative to develop and deliver blockchain-based public services across the EU.