Project on European blockchain launched and supported by Belgium

Two Belgian software companies have announced that they have launched the first blockchain nodes of the EBSI network. Belnet and Smals worked together to build the Belgian component of this project on the European blockchain. A representative of Belnet said:

“The first Belgian node was created by Belnet and has been fully operational since 12 February. This makes our country the first to launch a node in this European project. Smals has prepared a second Belgian knot. ”

The European Blockchain Services Infrastructure (EBSI) is a joint initiative of the European Commission and the European Blockchain Partnership (EBP) to provide cross-border public services using blockchain technology across the EU.

30 block node European blockchain project

The future network will have 30 nodes distributed throughout Europe. It is expected that in the coming weeks, a number of other organizations will launch their own nodes.

The European Commission will operate a minimum number of EBSI nodes at European level, and Member States will operate EBSI nodes at national level. The basic concept is that all nodes will be able to create and broadcast transactions that will update the distributed registry.

The European blockchain network will have multiple uses, as well

“Use of technology to securely share data (eg IOSS VAT identification numbers and single point import management) between EU customs and tax authorities”

Although not widely discussed in the press, the EBSI project is the largest effort to implement blockchain technology initiated by governments. This European-wide infrastructure will support the digitization of services and has enormous potential for the financial industry.