The European Commission collaborates with the Blockchain Platform Protocol for the Digital Education Credential Project

The European Commission collaborates with the Blockchain Platform Protocol for the Digital Education Credential Project

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The European Commission is making progress towards adopting blockchain technology to transform the verification process for educational and professional credentials across countries. In an effort to achieve this goal, the EU-funded EBSI Vector project has partnered with Protokol, a blockchain solutions provider.

The collaboration aims to utilize blockchain technology to develop a credential verification solution. The aim is to simplify the process for EU citizens to have their educational and vocational skills recognized and accepted in different countries.

According to Protokol manager Lars Rensing, the aim of the collaboration with EBSI Vector is to establish a digital infrastructure that is open, secure and decentralized, not only for the EU, but also for wider applications outside its borders.

Cleansing said:

We believe that blockchain and Web3 technology have enormous potential to transform a wide range of industries and prepare them for the future.

The announcement stated that the scope of the project extends beyond credential verification. It aims to incorporate other EU initiatives, including “EUeID”, to develop additional solutions that promote seamless interaction between individuals and organizations.

Expanding blockchain implementation across the EU

This collaboration between Protokol and EBSI Vector is part of the wider initiative called European Blockchain Services Infrastructure (EBSI).

By integrating various initiatives, the project aims to create a comprehensive framework that facilitates smoother and more efficient processes within the EU.

The aim is to leverage blockchain technology to improve the efficiency, transparency and security of various digital services across sectors such as education, healthcare, finance and more.

Protokol will contribute to the development of holder wallets, so that citizens can store their digital identification in a secure way. In addition, Protokol’s expertise in user-friendly design will be utilized to improve the user journey across national borders, and ensure a seamless and intuitive experience for individuals who interact with the credential verification system.

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The project is carried out by a consortium of partners from all over Europe, consisting of universities, research institutions and technology companies. This diverse consortium brings together a range of expertise and resources to ensure the success of the project.

By collaborating with various stakeholders, including academic institutions, research organizations and technology experts, the project aims to leverage their collective knowledge and capabilities to develop and implement effective solutions.

This comes at a time when EU leaders have taken an active approach to embracing and regulating new Web3 technologies.

On May 31, regulators officially passed the Markets in Crypto-Assets (MiCA) bill. This bill, which was first introduced in 2020, has been an important point of discussion in the industry. The main goal is to establish a coherent regulatory framework for crypto-assets across EU member states.

By implementing MiCA, EU leaders aim to bring consistency and clarity to the regulation of crypto-assets, and promote a secure and transparent environment for market participants.

The final decision on the MiCA regulation has been eagerly awaited by companies operating in the blockchain and crypto space. One such company is Bakkt, a blockchain technology platform, which has expressed interest in expanding its focus on the EU following the implementation of MiCA.

Bitcoin was priced at $26,600 on the one-day chart | Source: BTCUSD on TradingView

Featured image from UnSplash, charts from TradingView.com

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