A timely initiative for Digital Innovation
The second public consultation by SEEBLOCKS.eu aimed to influence future blockchain and distributed ledger technology standards in Europe. The initiative, which began in June 2024, aims to gain feedback from industry actors on the main issues of concern and how emerging standards will help build sustainable blockchain infrastructure. This move is important because the Rolling Plan for the ICT Standardisation 2024 has identified Blockchain and DLT as being central for innovation within the Digital Single Market. These technologies can be used for various services beyond financial services within a secure decentralised framework.
Insights from the First Public Consultation
This consultation further builds upon a first round held in December 2023, which received responses from 50 stakeholders from different countries with an average of 38% representing startups or small-to-medium enterprises (SMEs). Such preliminary discussions yielded insightful outcomes as about three-quarters of those who responded were experts contributing to open standard development. Within this group, 64% had contributed to Standard Development Organisations (SDOs) while another percentage had experience with working on open blockchain protocols (42%). A varied range of industries was represented among respondents, whereof primary involvement into Blockchain & DLT constituted as much as 36 percent; other respondents came from areas such as cybersecurity (14%), fintech/regtech (10%), Internet of Things (10%), and the metaverse (8%).
Key areas identified as priorities for emerging blockchain standards include identity management, data provenance, governance, and the tokenisation of assets and exchange. The second consultation seeks to refine these priorities and identify new areas where standardisation can provide significant benefits. This initiative aligns with the EU's broader goals of fostering innovation and ensuring that the development of standards reflects European interests and values. SEEBLOCKS.eu is dedicated to creating a collaborative vision that incorporates the perspectives of all stakeholders, ensuring that European interests are well represented in the global blockchain landscape.
The full report with the outcomes of the first public consultation is available here.
New Public Consultation Goals
Stakeholders from various sectors, particularly startups and SMEs, are strongly encouraged to participate in this consultation. It provides a crucial opportunity to influence the future direction of blockchain and DLT standards, potentially impacting important areas such as cybersecurity, fintech, and the Internet of Things. The consultation will remain open until August 31, 2024, and SEEBLOCKS.eu invites all interested parties to contribute their insights and help shape the future of blockchain technology in Europe. For more details and to participate, visit the SEEBLOCKS.eu website.
