EU Approves Digital Policy as Parliament Supports Blockchain Infrastructure Plan
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The European Union (EU) has joined the Digital Decade policy initiative and is developing a formal blockchain infrastructure strategy. The European Parliament, on the other hand, approved the “Digital Decade” policy program by a vote of 529 to 22. It promises to help businesses and public agencies digitize their operations.
The European Parliament voted to approve the “Europe’s Digital Decade” policy plan by a plenary vote of 529 to 22, with 25 abstentions. The plan will promote digitization of businesses and public services
— Shine 🪐 (@Shine10000W) 24 November 2022
Furthermore, the policy will encourage the development of a “pan-European blockchain-based infrastructure.” According to the policy note, the EU will launch a larger plan to invest in web3 and blockchain technology, with the participation of many countries. The plan also calls for the advancement of 5G, the strengthening of data infrastructure and the improvement of high-performance computing.
EU’s cross-border blockchain infrastructure continues as Parliament approves Digital Decade policy programme.🇪🇺🐳
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It should also be noted that the EU started MiCA to ensure regulatory certainty for the cryptocurrency industry. The Markets in Crypto-Assets (MiCA) regulation, on the other hand, lays out some things, including new guidelines for grading and issuing cryptocurrencies.
Furthermore, services related to cryptocurrency markets will be regulated. MiCA will generally provide regulatory clarity to the crypto industry and could quickly become a model for other countries to follow.
EBSI raises the bar for European crypto
As previously mentioned, on Thursday, November 22, 2022, the European Union (EU) approved a vote on the program, strengthening preparations for an official blockchain infrastructure strategy. However, the Digital Decade policy, which aims to help public institutions modernize their operations, was approved by a vote of 529 to 22.
The EU has approved the Digital Decade policy program, which will help existing European blockchain initiatives receive more support to build blockchain-based public services.
— crypto.news (@cryptod0tnews) 25 November 2022
Investing in multinational blockchain infrastructure is one of the goals of the Digital Decade Strategic Plan for 2030. It provides comprehensive “multi-country plans” to achieve the goals, focusing on themes such as creating a common data infrastructure, promoting high performance. computing, building 5G internet corridors and investing in blockchain and web3 technologies.
and promises to support pan-European blockchain-based infrastructure to achieve the goal of building a common data infrastructure, strengthening high-performance computing, launching 5G Internet corridors and investing in blockchain and blockchain. Target as Web3 solutions.
— Shine 🪐 (@Shine10000W) 24 November 2022
The importance of EBSI for the future of the EU
The EU began MiCA to provide regulatory clarity for the cryptocurrency sector. This latest EU step will present a united front for future blockchain technology and its rapid expansion across the Union, giving member states greater influence over technological progress and cryptocurrency.
The Markets in Crypto-Assets (MiCA) legislation proposed by the European Commission (EC) for 2020 is an important licensing proposal aimed at ensuring financial stability and protecting investors. It should also be noted that in 2018 the European Commission established the European Blockchain Partnership and the European Securities and Markets Institute (ESBI) with the main goal of developing and delivering blockchain-based public services across the EU.
A transnational initiative, the European Blockchain Service Infrastructure (EBSI), includes all EU member states as well as observers Norway, Liechtenstein and Ukraine. According to a representative of the European Commission, EBSI “is already subject to a partnership between the European Commission and the European Blockchain Partnership.”
“EBSI aims to support cross-border public services by leveraging technology in an environmentally friendly way,” he added. It uses permission blockchain with EU governance provided by EBP.” As a result of the vote for the Digital Decade file, more people are likely to support EBSI in the future.
