On Monday, March 14, the European Blockchain Observatory announced a tender for the hiring of a consortium, whose mission would be to facilitate and operate a pan-European regulatory sandbox for distributed ledger technologies, or DLT, and blockchain, in particular.
An important task for the future consortium will be to provide “comprehensive legal advice” regarding the operation of the core services of the European Blockchain Services Infrastructure (EBSI).
The regulatory sandbox is conceived as a space where regulators, blockchain companies and users will interact “in a trusted environment”. In addition to the already existing EBSI projects, it will host a wide range of potential blockchain applications in key industrial sectors, with a necessary condition for such projects to complete a proof of concept.
As the statement says, the ultimate goal of the sandbox is to “foster a dialogue between national and EU regulators and legislators with businesses and thereby remove legal uncertainties for use cases based on decentralized solutions.” .
Plans to create a regulatory sandbox for blockchain technology were announced by the European Commission and the European Blockchain Partnership (EBP) in 2020.
According to the release, four EBSI-hosted use cases are already in an advanced stage of development, with three additional use cases recently selected for implementation.
The news arrives along with an announcement from the European Blockchain Observatory working on a revised version of the report on the latest developments in the EU blockchain ecosystem.
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