EU to Use Blockchain for Educational and Professional Credential Verification
About a month ago on June 7th, the EU recently announced its plans and steps they would take to utilize Blockchain for educational and professional credential verification.
Protokol, a provider of Web3 and blockchain solutions, announced a partnership with European Blockchain Services Infrastructure (EBSI), a project funded by the European Union that is working on a decentralized framework for cross-border verification.
The collaboration aims to develop a new solution for verifying credentials using blockchain technology, with the goal of simplifying the process for EU citizens to have their qualifications recognized in different countries.
CEO of Protokol, Lars Rensing, stated that the project aims to create a more open, secure, and decentralized digital infrastructure for the EU and beyond, with the belief that blockchain and Web3 technology can have a transformative impact on various industries. As part of the initiative, EU citizens will be provided with a digital wallet by Protokol to manage and utilize their digital credentials.
As per the announcement, the project intends to integrate additional EU initiatives, including “EUeID,” (European Digital Identity) in the future to develop further solutions that enhance interactions between individuals and organizations.
This partnership is a key part of a larger goal aiming to establish an interoperable framework for blockchain-based services across the EU, called the EBSI initiative.
The upcoming credential verification solution, which will leverage blockchain technology, aims to simplify the process for EU citizens to have their credentials recognized and accepted across nations. The solution aims to create a smoother and more efficient way for EU citizens to get their qualifications acknowledged and accepted in diverse nations.
The EU leaders have been proactive on creating a support system for emerging Web3 technologies via regulating and welcoming, a case example of this can be seen with the introduction of the Markets in Crypto-Assets (MiCA) bill into law.
Since its introduction in 2020 and its signing on May 31st 2023, the MiCA has been a major point of discussion in the industry. The bill is primarily focused on creating a harmonized regulatory framework for crypto assets that can be applied uniformly across all member states of the European Union.
The European Commission’s commitment to leveraging blockchain technology for credential verification is a major step forward in the development of a decentralized digital infrastructure in the EU. By collaborating with companies like Protokol, the EU is taking significant strides towards creating a more secure, open, and efficient system for recognizing and verifying credentials across different nations.
This move towards a decentralized approach is indicative of a broader trend towards the adoption of blockchain technology across various industries. The EU’s efforts may serve as a compelling example for other regions to follow as they explore the potential of blockchain technology in creating decentralized digital infrastructures.
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