EU Blockchain Observatory and Forum: February 2024 Newsletter

We are pleased to present our monthly update on EUBOF activities.

This edition of the #EUBlockchain newsletter includes a brief roundup of upcoming workshops and publications.

News

Exciting News: Applications for the 2nd Cohort of the European Blockchain Sandbox Now Open!

The European Blockchain Sandbox is excited to announce that they are now accepting applications for their second cohort! They invite companies (including startups and scale-ups), non-profit organisations and public entities from the EU/EEA to apply and contribute to this pioneering initiative at the intersection of DLT/blockchain and regulation.

In 2023, their inaugural cohort successfully brought together twenty innovative use cases with national and EU regulators/authorities from across the EU/EEA. To learn more about these cases, visit https://rb.gy/6zf0jk

Application Details:

• Who Should Apply: Companies, non-profit organisations and public entities with innovative blockchain use cases in the EU/EEA.
• Application Form: https://rb.gy/7hju9d
• Deadline for Submission: March 25, 2024, at 23:59 CET.

Upcoming Publication:

The Best Practices Report from the 2023 cohort, detailing observations and lessons learned, will be published shortly. This report will provide valuable insights into the inaugural year of the program. Stay updated through our website and social media channels on LinkedIn and X.Spread the word in your network and be part of shaping the future of blockchain regulation!

SEEBLOCKS.eu?2nd SEP is now open - almost halfway there. Only four in total. Don't miss out!

APPLICATIONS OPEN: We're thrilled to announce the launch of our 2nd Selection and Engagement Procedure (SEP) at SEEBLOCKS.eu.

With an overall budget of € 300,000, SEEBLOCKS.eu aims to empower specialists to represent Europe's interests and contribute to the #Blockchain Chapter within the #RollinPlan for #ICTStandardisation.

Key Dates:

• SEP Open: January 25 - March 21, 2024
• Evaluation: 35-40 days
• Notification: Late April 2024

Evaluation Criteria:

• Soundness of Proposal (30%)
• Technical Excellence & Relevance (30%)
• Expertise, Experience, Qualifications (20%)
• Economic Sustainability (20%)

Proposal Types:

• Long Term Contributions
• Short Term Contributions
• One-Shot Contributions

Eligibility:

• Individuals with a track record in standardisation activities residing in European
• Member States and Associated Countries. We encourage applications from
• European SMEs, Research & Innovation centres, EBSI, and EUBOF experts.

For details, read the SEP regulations https://lnkd.in/dk6PN_T8

Don't miss this incredible opportunity! Apply now and contribute to shaping the future of Blockchain/DLT standardisation.Best of luck to all applicants!

A BLOCKCHAIN MANIFESTO: EMBRACING ITS POTENTIAL IN THE EUROPEAN UNION

The European Union (EU) is at risk of falling behind North America and Asia in the global race for the future digital economy, as demonstrated by its reliance on foreign digital service providers and the limited number of unicorns and start-ups compared to its competitors. This race is characterized by the development of innovative technological advancements that bring unique opportunities, principles, and embedded values. While we recognize the intrinsic value of technologies like artificial intelligence, virtual reality, and robotics, we believe that blockchain will serve as the trust layer for the convergence of all these technologies, allowing them to build upon each other and form the framework of the future digital economy.?This manifesto is our pledge to promote the use of blockchain technology for the greater benefit of all and to do so based on shared values around decentralization, privacy, security, transparency, sustainability, and legal/regulatory compliance.

Blockchain is more than a technological advancement. It stands as a symbol of positive and transformative potential in an era of significant changes. Although initially focused on IT and finance, blockchain goes far beyond digital innovation in financial services: It is also about building a better internet, one that offers a solid framework for unparalleled transparency, trust, and citizen empowerment. In this sense, as we will show, blockchain is closely aligned with EU?aims and values. For example, it enables tools that make judicial and governance processes transparent, and supply chains faster and more ethical. Marginalized groups have access to services and a voice through digital identities, and the economy is strengthened with new and more inclusive financial applications. By fostering decentralized digital rights, blockchain helps strengthen human rights and ensures these values remain at the heart of the EU’s digital transformation.

Blockchain’s capacity to enhance data security, trust, and data immutability positions it as an ideal solution for interlinking diverse technologies and systems including data spaces, cross-platform applications, machine learning and AI models, IoT devices, supply chain networks, healthcare data, energy grids, carbon offsets, and digital identity solutions.?

Read & sign the Manifesto here.

Research Paper on Decentralized Brands in Social Media Networks & Beyond

A new research paper, by S?nic? Alboaie (Axiologic Research), Kristina Livitckaia and Konstantinos Votis (Centre for Research and Technology Hellas) was published earlier this month as a follow up of the Decentralized Social Media Thematic report.

In our era of rapidly advancing technology, the detrimental consequences of Moloch's race, a metaphor for self-perpetuating competitive behaviour that leads to suboptimal or catastrophic outcomes, can be mitigated through innovative concepts like 'decentralized brands'. These ideas represent a shift from a singular unit of value (i.e., particular currency), advocating for a diversified and resilient system. Implementing decentralized brands inside decentralized social media networks may be a crucial first step towards this transformation. By leveraging artificial intelligence technology together with blockchain technology, we can counterbalance the inherent friction costs of decentralization, thus facilitating the coexistence of various value systems. This shift from centralized structures to a more decentralized model fosters sustainable, inclusive, and resilient communities, providing a feasible strategy to evade the pitfalls of Moloch's race. The centralized nature of current social media platforms has raised concerns regarding data privacy, control, and manipulation. Decentralized social networks, characterized by distributed control and user empowerment, offer a promising strategy for creating decentralized brands. This paper outlines background and research ideas across multiple disciplines to understand better and achieve the vision of decentralization that supports general social interests.

The paper is available for reading and downloading here.

CHAISE Statement of Support

Is your company future-proof for the #blockchainrevolution? Here are three emerging job profiles you should add to your team ??

Sign our Statement of Support to recognize the added value of these roles for the competitiveness of European companies: https://chaise-blockchainskills.eu/statement-of-support/

Building a Chain of Transformation: Join the BC100+ Manifesto and Drive Global Sustainable Impact

BC100+ is an initiative that brings together a variety of organizations across different sectors. The initiative’s main goal is to raise awareness about the potential of? blockchain for social impact and sustainability. BC100+ explores the potential of blockchain technology to address systemic issues such as inequality, poverty, and climate change by rebuilding trust, empowering communities, asserting accountabilities, and re-distributing value on a global level. With its core features, blockchain technology could play a role in the acceleration of much-needed changes within our global food system, energy infrastructure, and biodiversity protection, among other issues. At the core, BC100+ intends to promote quality debate, raise awareness, and clarify the opportunities of blockchain’s role in realizing the UN Charter Values and the 2030 Agenda.

Members of the BC100+ Steering Committee are excited to announce the release of the BC100+ Manifesto, a defining document that sets forth the principles and vision for driving positive change through blockchain technology. With this milestone, the BC100+ initiative takes a momentous stride towards a more sustainable and inclusive future.

The Manifesto represents a commitment by the BC100+ signatories to leverage blockchain technology's transformative potential for social good. It outlines a comprehensive set of guiding principles that shape the actions and goals of the BC100+ initiative. The initiative accepts applications from a diverse range of organizations from three target groups: blockchain projects and experts, UN offices with blockchain projects, and SDG projects with or without blockchain applications. Successful applicants will be accepted based on their alignment with the BC100+ Manifesto's principles.

By becoming part of BC100+, organizations can be at the forefront of positive transformation through blockchain technology. They will gain access to a vibrant ecosystem of like-minded peers, forging new collaborations, and driving collective action towards shared sustainable development goals. Moreover, they will have the valuable opportunity to engage with other organizations, facilitate collaboration, organize, and participate in various events and activities, share knowledge and expertise, and explore potential partnerships and opportunities.

While BC100+ has exciting plans, the release of the Manifesto marks the first milestone of this system's leadership. It sets the stage for an era of innovation and collaboration, where blockchain technology can be harnessed to address some of the world's most pressing challenges, facilitating collaborative leadership to enable trust- building, learning and empowered action among stakeholders who share a common goal.

You are invited to read and sign the Manifesto!

The Blockchain Skills for Europe Alliance (CHAISE) invites organisations to support the project goals and outcomes via a Statement of Support

The CHAISE Statement of Support calls on Blockchain stakeholders from across Europe, such as IT companies, sector representatives, policy actors, social partners, standardisation organisations, national qualification agencies, VET and HE institutions, trainers/mentors, and field experts to:?

• acknowledge the emerging occupational profiles in the Blockchain field and the defined skills and knowledge requirements, and
• contribute to the advancement of the project’s objectives to reinforce education in digital competences, based on the principles of common interest, reciprocity, and complementarity.

Check out this?page?to find out more.?

• about the Blockchain Occupational Profiles as defined by CHAISE
• the CHAISE Blockchain VET Programme.

The Statement of Support is available?here?and you can sign it off, by completing the form available?here.

Upcoming Events

Budapest Blockchain Community Week – 18-24 March

?? Budapest Blockchain Community Week 2024 is an initiative of the local independent blockchain communities to support the mainstream adoption ofnbsp;#Web3nbsp;andnbsp;#Blockchainnbsp;technology.

?? Happening between the 18th and 24th of March, onsite and partly online.

?? Some of the participating local communities are Ethereum, Bitcoin, Hyperledger, and Polkadot.

? For more information:

?? Homepage: https://lnkd.in/dma3Cq33

? Linkedin:nbsp: https://lnkd.in/daqdDiuP

?? Twitter: https://lnkd.in/dcWPhF7A

Digital Assets Forum by EBC| 15 April 2024

The Digital Assets Forum by EBC, will take place in London on the 15th of April 2024 and brings together the institutional digital assets world.?

Find out more and get your tickets here.

Blockchain Life 2024 – Dubai, April 15& 16

The highly anticipated Blockchain Life Forum 2024 is set to take place in the vibrant city of Dubai on April 15-16. Welcoming industry professionals and crypto enthusiasts from around the world, this legendary event promises to be an unforgettable experience. This time the central topic of the forum will be making money on Bull Run, which has already begun. Forum speakers and attendees will share analytics and experience: which coins to buy and sell, which coins are worth investing in now, and which are better not to invest in.

More than 8,000 people from more than 120 countries take part in the grand event. Learn more and buy a ticket: https://blockchain-life.com Confirmed speakers include top figures in the global crypto market such as:

• Justin Sun (Founder of TRON, Member of the HTX Global Advisory Board)
• Sergei Khitrov (Founder of Listing.Help, Jets.Capital and Blockchain Life)??
• Rachel Conlan (CMO of Binance)
• Paolo Ardoino (CEO of Tether, CTO of Bitfinex)
• Stephan Lutz (CEO and CFO of BitMEX)
• Yat Siu (Co-Founder of Animoca Brands)
• Dominic Williams (Founder and Chief Scientist of DFINITY (ICP))
• Ben Goertzel (CEO of SingularityNET)
• Xinxi Wang (Co-Founder of Litecoin Foundation)
• Andrei Grachev (Managing partner of DWF Labs) and over 100 other speakers

For a grand conclusion of the event, VIP ticket holders and forum speakers will have the exclusive opportunity to attend the main crypto party of 2024 - the legendary Blockchain Life AfterParty. The special guest at the AfterParty is the globally renowned hitmaker, Alan Walker, who will be performing an amazing live concert. But the excitement doesn't stop there. On April 13-21, the crypto community can immerse themselves in a fantastic Blockchain Life Week, filled with exciting parties and events organized by various industry companies. A VIP ticket to Blockchain Life 2024 allows for free access to some of those events to achieve a new level of networking experience.

Buy tickets while they're still available with a 10% discount using promo code EUBOF2024 at https://blockchain-life.com?

Blockchain Horizons – INATBA Academic & R&D Forum

May 22, 2024 – Darmstadtium, Darmstadt Germany

The INATBA Academic Advisory Board is proud to announce the 1st edition of?Blockchain Horizons:?INATBA’s Academic and R&D Forum, bringing you a full-day of conversations about where research meets reality in blockchain innovation. This event will explore blockchain’s potential across various sectors. The Forum will gather experts to discuss recent DLT research, propose strategies for global adoption, and foster collaboration between researchers and businesses for real-world application.

Find our more here

Latest and Upcoming EUBOF Publications

• Our latest report on Interoperability of Blockchain Networks was published at the end of November. Through this report we attempt to explain what blockchain interoperability is, how it works and why it is important; it also presents the different approaches. In the report, we further present the different types of interoperability, including sidechains, atomic SWAP protocols and cross-chain automated market makers, token bridges, native payments, contract calls, and programmable token bridges. Finally, the report discusses the future of blockchain interoperability. You can read and download the report here
• Our report on Decentralised social media was published at the end of October. This report provides an overview of how social media has evolved from the use of static internet protocols (Web 1.0) to metaverse and decentralized platforms (Web 3.0). ‘Traditional’ social media platforms centralize the authority around decisions, leading to concerns about censorship, content discovery, and revenue generation. Decentralized social media aims to shift content sharing and discovery, empowering users with greater control, and ultimately leading to the freedom of speech and expression. The report helps further dig into
• Current landscape of decentralized social media
• Introduction to Fediverse and ActivityPub protocol as central concepts
• Types of decentralized platforms and technological underpinning
• Key differences with the social media of our times
• Advantages and challenges

You can read and download the report here.

• Check out our most recent Trend Report, providing insights on the latest development at the technological, market and regulatory aspects with regards to blockchain technology. The report is available for download here. Our next Trend Report will be out by the end of March. Stay tuned!

We have scheduled the following thematic reports to be published soon:

• The Open Virtual World –Virtual World Unchained”: this report delves into defining the basic differences between the notion of “Virtual World” and “Open Virtual World” by explaining the core values, and the key differences, focusing also on challenges and opportunities. Additionally, the report explores key regulatory considerations – with a special focus on EU regulations.
• ‘Traceability of products & product passports: a blockchain-based perspective’ – The aim of this report is to examine how the digital product passport (DPP) aims to create a system that can store and share all relevant information throughout a product’s life cycle. This would provide industry stakeholders, businesses, public authorities, and consumers with a better understanding of the materials used in the product as well as their embodied environmental impact.
• Blockchain for management of Intellectual Property Rights: There is a wide range of blockchain uses (patent management, trade secret management, IP rights, and registries, evidence of use, traceability, certification trademarks, evidence of creation, IP enforcement, anti-counterfeiting, supply chain tracking, provenance authentication, digital rights management). In this report, we examine industrial property rights, the impact of NFTs in IPR, relevant standards, and considerations for the appliance.
• The latest developments of the EU Blockchain Ecosystem – 2024: Our most anticipated report, summing up latest developments in all EU Member States, Switzerland, Norway, Liechtenstein, UK and Ukraine will be published by May 2024. The report will examine the developments in the industry, market, research and academia as well in the regulatory and legal environments.

More updates coming up soon!

Previous Events

Green - Digital Innovation days at the Slovenian House (ex-EXPO Pavilion) at Dubai EXPO City

in the Sustainability area of COP28 https://www.cop28.com/en/green-zone

The EU Blockchain Observatory & Forum joined COP28 in Dubai 2023 invited by Nena Dokuzov and the Ministry of the Economy, Tourism and Sport, Slovenia in partnership with MCH Global, Dubai World Trade Center / Future Blockchain Summit, Climate Chain Coalition, IAAI GloCha and in cooperation with Slovenian Enterprise Fund, SPIRIT Slovenia, AV Living Lab and AWS Dubai.

?EUBOF was represented on the 7th of December, during the session on “Water and cross border data and digital innovation infrastructures”, with a particular focus on advanced digital technologies (AI, Cloud computing, Big Data, blockchain technology).

World Metaverse Summit & Awards – Dubai, 7th of December 2023

Notably coinciding with the COP28 Climate Change Conference, the Summit exemplified WMC’s commitment to inclusive engagement and utilizing digital platforms for addressing global environmental concerns. The event was streamed into MetaCOP28, the Metaverse counterpart to COP28, showcasing a new era of inclusive collaboration and engagement.

“The Metaverse is the next frontier in our digital evolution, holding the promise to revolutionize industries and empower communities,” remarked Dr.?Aleksandra Prodanovi? Stamenovi?, General Secretary of the World Metaverse Council. “Our summit in Dubai not only showcased the potential of the Metaverse but also solidified Dubai’s role as a leader in this space.”

Webinar “Interoperability in the Metaverse”, December 4th 2023

On the 4th December, the Spanish & Portuguese Chapter of?Licensing Executives Society International (LESI)?and the Chair for the responsible development of the Metaverse organized the Webinar “Interoperability in the Metaverse”. Interoperability is usually mentioned as an attribute of the Metaverse. Thanks to this, continuity of avatars, digital goods, and payments methods through different interactive virtual world platforms is ensured. However, for the time being such interoperable virtual worlds are a minority. The present webinar discussed the technical, economic and regulatory challenges that need to be overcome to achieve such objective. For this purpose two roundtables were held. In the first one,?Rafael Espinosa de los Monteros Iglesias?(CEO of Esports Bureau),?Antonio Pita Lozano?(Global Metaverse Manager. Telefonica) and?Carlos Mu?oz Ferrandis?(Co-Founder & CEO at ALINIA) debated about the technical aspects of interoperability. In the second one,?José Luis Amat Reinoso?(Lawyer of CECA MAGAN Abogados),?Irene Kitsara?(European Standardization Initiatives Director at IEEE) and?Bego?a Otero Gonzalez?(Senior Research Fellow at Max Planck Institute) explained the regulatory challenges of interoperability. The roundtables were moderated by?Luis Ignacio Vicente del Olmo?Council at PONS IP) and?David Fuentes Lahoz?(Lawyer at Bird & Bird). You can access the recording here.

Online workshop on Decentralised social media, by the EU Blockchain Observatory & Forum

On the 18th of October the EU Blockchain Observatory & Forum organised an online workshop to discuss the potential impact of decentralised social media to the future of social media and communication channels in general. Our team of experts provided an overview of their key findings while working on a thematic report on the topic.

The recording of the event is available here: https://www.eublockchainforum.eu/video/workshop/decentralised-social-media-webinar ????

European Blockchain Convention: 24-26 October, Barcelona

The 9th version of the European Blockchain Convention took place on October 24-27, 2023 in the vibrant city of Barcelona.Check out what happened at the event here.

The EUBOF & EBSI VECTOR 2-day event was organised in the frame of the EU Blockchain Week 2023, on the 6&7 of October in Ljubljana, Slovenia

On the 6&7 of October, the EU Blockchain Observatory and Forum alongside the Ministry of Economic Development and Technology, the University of Ljubljana and the Ljubljana Technology Park organised a 2-day event in the beautiful city of Ljubljana, in the frame of the EU Blockchain Week 2023! The event hosted insightful and interesting panels with world acknowledged experts and policy makers.? We had two days full of exciting and contentful discussions, knowledge sharing and insightful presentations. Some of the most? interesting and useful takeaways following the two days’ discussions include:

• the development of blockchain ecosystem together with the development of the infrastructure and services should go hand in hand with the regulatory framework;
• there is a strong connection between blockchain and sustainability?#SDGs
• if Web2 means strong competition,?#Web3?means strong cooperation.
• we cannot finance advanced project in traditional way, the need for sustainable finance is evident here as well!

Thank you for your participation to our keynote speakers, moderators and panelists and to the great audience that engaged to the discussions both physically and online!

INATBA Digital Blockchain Week 2023 (19-21 September)

INATBA Digital Blockchain Week second edition,?took place online from September 19th to 21st in association with the EU Blockchain Observatory and Forum ,?offering attendees a unique opportunity to engage with?industry leaders and experts.

The event included:?

• A series of?panel discussions around six distinct tracks, each focused on a specific aspect of blockchain technology. From sustainability to digital assets, Web3 to policy and regulation, business to identity and security, these tracks offer a comprehensive exploration of the blockchain landscape.?
• Inspiring Keynotes and Interactive Sessions: Dive into thought-provoking keynotes that ignite your imagination and provide glimpses of blockchain’s future.
• Exclusive Access to INATBA Working Groups: During INATBA Digital Blockchain Week, special calls from our core working groups will welcome non-members. These groups cooperate to help drive blockchain policies, standards, and innovation, offering a unique chance for outsiders to engage and gain insights into how INATBA is shaping the industry’s future.

Previous EUBOF Publications

The reports below were published recently.

• Report on PoW Energy Consumption in the E.U. Proof-of-work (PoW), a technique for achieving consensus in blockchain networks, has attracted the interest of regulators, policymakers, and the public because of its energy intensity. The case of Bitcoin in particular, which consumes electricity comparable to a small country, has also raised environmental concerns. The EU has been perceived by the public as a minor contributor to PoW activity and energy consumption, yet no studies exist to support or refute this assumption. In this report, we investigate the energy consumed by Bitcoin mining in the EU by looking at secondary resources. Using the Cambridge Bitcoin Electricity Consumption Index, we consolidate panel data on the Bitcoin hashrate (which measures the ‘intensity’ of PoW) for EU Member States between 2019 and 2022, as well as for the years 2020 and 2021. Specifically, we examine the mining activities of each Member State for each month, as well as across each year, and we present various comparisons. At the same time, we use the energy consumption databases of the open knowledge repository datacommons.org to connect hashrate at national and EU level to the respective level of electricity consumption.
• Report on Blockchain Applications in the Automotive Sector. Beyond the world of cryptocurrency, blockchain is finding its way into the automotive sector. Blockchain might serve innovations in communication and data transaction security, component origin, and location tracking, and opens up access to an entirely new world of products and services. However, its use in the automotive industry is still at an early stage, and there is a long journey to where and how the technology can be used best. This report focuses on the research regarding the particular market characteristics and needs, the potential role of blockchain in the automotive industry, and the positioning of use cases.
• Report on Smart Contracts. A smart contract is an event-driven programme that runs on a decentralised, distributed shared and replicated ledger, which can take custody and instruct the transfer of assets on that ledger. In this report, we examine concepts and definitions, the mechanisms behind a smart contract, and use cases. The report examines both benefits and vulnerabilities and reviews the legal considerations and paradigms from regulations across Europe.
• Report on Blockchain and Transparency in the Supply Chains. The supply chain is a complex sector, with implications for everyday life, and applies to a range of products. Generally, the supply chain is an environment where multiple stakeholders coordinate in order to bring products to consumers, and it is not a stable environment. Philosophies change to include newly found requirements and needs, as in the case of the shift from ‘just in time’ to ‘just in case’.
• Report on the Metaverse. The term ‘metaverse’ has recently concentrated the interest of businesspeople and regulators with its reputed transformative potential. As we will demonstrate, defining the metaverse is challenging – many have attempted to describe it, with varying degrees of success. Above all, the metaverse is currently an aspiration shaped by subjective experiences and desires. However, this does not mean that tangible characteristics cannot be attributed to it, nor that it lacks a substantial impact. The purpose of this report is to provide a grounded understanding of the metaverse and its potential. At the same time, given that the metaverse is still evolving, we hope to point in the direction providing the most societal benefits and warn of potential roadblocks.
• Report on the EU Blockchain Ecosystem Development, version 2022. The EU Blockchain Observatory & Forum?has published the most recent report capturing the current state of technological, market and regulatory developments in each of the 27 EU Member States, plus Switzerland and the United Kingdom. The report provides country-level factsheets summarising the state of affairs in each country.
• Report on Decentralised Finance (DeFI): the aim of this report is to define and present the main principles of DeFi. It also gives details about the size of the DeFi market and the concepts of decentralised lending and borrowing, as well as decentralised exchanges and other notable DeFi concepts.
• Report on Blockchain Applications in the Energy Sector: the report provides an overview of blockchain technology in the energy sector. On the basis of interviews with experts, it also examines standardisation activities, use cases in the sector, the status of R&D and innovation, and regulatory challenges and barriers, as well as insights directly from the industry. It also provides policy and regulatory recommendations for the future development of blockchain applications in the energy sector.
• June Trends Report: the report includes latest trends and developments in blockchain, examining markets, technological developments, and updates on the global legal and regulatory framework.

Other News

Map of Blockchain Education and Training Initiatives

We are proud to present our new website feature, a map of existing blockchain training and educational initiatives in Europe and the rest of the world!

We invite all organisations offering such training or educational programmes to provide information about their initiatives by completing a?simple online form. All entries will be reviewed by our team in terms of relevance and completeness of information and will then be made available on the?map.

Users will be able to find training and education opportunities, based on specific criteria, including country, language, type of courses offered, type of certification, etc.

For more information visit our website.

Blockchain Initiatives and Projects on a Map

Are you aware of any blockchain initiatives or projects in your country? Are you organising an initiative or project related to blockchain?

If so, we want to know about it! To put your project on the map, simply fill in this form. Initiatives include start-ups, not-for-profit organisations, academic research, open-source projects, consortium, government or corporate initiatives, foundations and more.?

For more information visit our website.