An EU Blockchain Industry Roundtable was held on 20 November 2018, marking an important step towards creating a European community that supports the deployment of blockchain technology.
As part of Roundtable discussions, industry leaders and innovative start-ups have agreed to work together with governments and the European Commission to support the development of blockchain technology. The aim is to reinforce the chances of developing the right conditions for blockchain technology to flourish and boost Europe's chances of maintaining its status as a leader in this field.
The European Commission has welcomed the decision of several Roundtable participants to establish a new ‘International Association for Trusted Blockchain Applications’. The new Association based in Europe and will be open to any organisation willing to work on the deployment of blockchain and distributed ledger technologies. In particular, it will work closely with the European Commission and Member States grouped within the ‘European Blockchain Partnership’ in supporting interoperability, developing specifications, promoting standards and regulatory convergence to support the development and exploitation of innovative blockchain technologies.
Blockchain technology could transform the world of digital services. If Europe intends to lead in the development and uptake of this new technology, close cooperation between the public and private sectors is needed. The European Commission is therefore keen to work together with governments and industry leaders to overcome regulatory obstacles, increase legal predictability, lead international standardisation and accelerate research and innovation to support innovative blockchain technologies.