Belgium's Plan for EU Blockchain Network: Insights from Digital Minister

• Belgium to Lead EU Council with Focus on Blockchain and AI
• Mobilizing Political Support for the EU Blockchain Initiative
• The Role of the European Blockchain Services Infrastructure (EBSI) Initiative
• The Pursuit of Digital Sovereignty
• Focus on Interoperability and Privacy

Belgium to Lead EU Council with Focus on Blockchain and AI

The presidency of the EU Council, the supreme political authority comprising government ministers from 27 European Union member states, is soon to be undertaken by Belgium. A key initiative during this term will be the promotion of an EU-wide blockchain strategy, Belgium's Digital Minister Mathieu Michel announced.

Mobilizing Political Support for the EU Blockchain Initiative

Mathieu Michel envisions an EU-wide digital infrastructure that could leverage blockchain for storing records such as driving licenses and property titles. The overarching objective is to increase political traction for this initiative during Belgium's six-month council presidency, with eight member states already supporting the plan.

Michel further expressed intentions to encourage other European countries to participate or utilize this project in the coming months.

The Role of the European Blockchain Services Infrastructure (EBSI) Initiative

The European Blockchain Services Infrastructure (EBSI) initiative, which originated in 2018 as a technical project, will play a crucial role in this plan. The purpose of the EBSI initiative is to ensure interoperability of applications across member states, thereby avoiding data silos.

The Pursuit of Digital Sovereignty

According to Michel, the use of artificial intelligence and blockchain technology could be instrumental in the EU's quest for digital sovereignty, which covers control over data and cyber authority. The EU has introduced numerous legislative plans in recent years covering fields such as cryptocurrency, artificial intelligence, data sharing, a digital euro, and the metaverse.

With the finalization of the Markets in Crypto Asset (MiCA) regulation this year, the EU is set to become the first significant jurisdiction in the world to have a comprehensive regime for the digital asset landscape. Michel believes that it is high time for Europe to effectively utilize these digital innovations.

Focus on Interoperability and Privacy

Blockchain technology's potential to enhance privacy and transparency, and control over data is gaining significant attention. Michel emphasised the role of blockchain in achieving interoperability of applications across EU countries.

However, he assured that a united blockchain infrastructure is not intended to gather any additional data from citizens. It is about enabling a paradigm shift in how the government offers data back to the people. Michel also acknowledged that blockchain technology might be replaced by other technologies, such as quantum computing, but insisted on the importance of trying to be the first in leveraging blockchain technology.

"If we are not in advance, it means that we are already too late," he concluded.

Edited by Jonathan Stoker