The European Commission is launching the EBSI VECTOR Project, aiming to create a blockchain digital document verification system in the EU.
Blockchain service provider Protokol is a technical partner of the European Blockchain Services Infrastructure (EBSI) project, part of the European Commission’s initiative to create an international infrastructure for blockchain services in the EU.
The EBSI VECTOR Project aims to create a secure, efficient, and decentralized system for the verification and exchange of digital educational and professional documents between countries. As part of the collaboration, Protokol will develop a cross-country user interface and design digital document storage wallets.
The EBSI VECTOR Project is expected to result in a scalable solution that can be implemented in all EU countries and eventually incorporate other large-scale initiatives of the European Commission. In particular, EUeID (European Union electronic Identification), the European Commission’s initiative to create a standardized electronic identification system for European Union citizens, which implies the introduction of a single digital ID for authentication and access to various online and public services within the EU.
According to Lars Rensing, CEO of Protokol, the EBSI VECTOR Project has great potential to transform a wide range of industries, from manufacturing and logistics to education, sports, retail, gaming, and much more. He said Protokol’s developments would create scalable and interoperable blockchain solutions that drive innovation.
EU leaders are seeking regulatory clarity in the Web3 space. At the end of May, the Markets in Crypto-Assets (MiCA) was signed into law. At the same time, the European Commission launched a regulatory sandbox to help blockchain projects adapt to new regulations.
