EU will create its own blockchain for digital sovereignty assurance

At a recent meeting of telecommunications ministers at the European Council in Brussels, the establishment of a new organisation, the European Digital Infrastructure Consortium, was announced. Its primary task is to develop and implement a new blockchain system, provisionally named Europeum.

EU will create its own blockchain for digital sovereignty assurance

The Europeum blockchain aims to eliminate the EU’s reliance on similar American technologies by securely storing all digital identifiers, wallets, credentials, and licenses within Europeum. This initiative will also upgrade data exchange processes among the 27 member states of the EU.

Europeum will allow citizens to trace the origins of the products, safeguard intellectual property, and protect confidential data from unauthorised third-party access. According to officials, Europeum is expected to significantly influence the daily lives of European citizens and the business sphere.

Belgian state secretary for digitalisation Mathieu Michel emphasised the importance of reducing reliance on American tech giants like Amazon Web Services, driving EU’s pursuit of its sovereign infrastructure.

This initiative has garnered support from ten EU nations, including Greece, Poland, and Italy, which have promised both technical and financial aid for its implementation. Additionally, countries outside this initial group will have access to Europeum’s blockchain infrastructure.

Michel revealed that more countries are going to join the Europeum initiative, which has been in development since 2017, and the developers have already created a functional prototype.

Earlier, the European Parliament announced more stringent anti-money laundering regulations targeting digital assets.

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