Transforming Digital Credential Verification with Blockchain
The European Commission strives to involve blockchain technology and Web3 solutions in various industries. In a recent announcement on June 7, blockchain service provider Protokol has revealed its collaboration with the EU’s EBSI VECTOR Project. The collaboration aims to develop a new blockchain-based decentralized framework for the exchange and verification of credentials across the borders of EU nations.
Protokol is an organization known for building decentralized applications (dApps), Web3 solutions and products. The firm announced the exciting news of their partnership with the EU on their official Twitter handle, today.
Protokol is pleased to announce our selection of @EU_Commission for @EU_EBSI VECTOR project. An EU-funded project that creates a secure, decentralized framework for the exchange and verification of digital credentials across national borders… https://t.co/ag6C2hIqcX#Blockchain #Web3 #EBSI
— Protocol (@HelloProtokol) 8 June 2023
The ground-breaking collaboration will make it easier for EU citizens to have their educational and professional credentials (e.g. diplomas, work experience) recognized and verified across national borders. Also, by using the blockchain technology, the partnership wants to improve the efficiency and security of the credential verification process.
This project with Protokol functions as part of the larger EU’s long-term blockchain strategy, European Blockchain Services Infrastructure (EBSI) initiative. The broader plan works with a goal of constructing a more open, secure, reliable and interoperable framework for various blockchain-based services in and outside Europe.
It is worth mentioning that this project works under a consortium of partners across Europe, including academic institutions, research organizations and technology companies. The knowledge and expertise of all these partners will be utilized to ensure the success of this project.
Utilizes blockchain technology throughout the EU
According to the announcement, Protokol’s expertise in blockchain technology will be used to “deliver critical elements of the credential verification solution.” The firm will also cover certain technical aspects of the project, including the development of an open source reference wallet. These wallets will facilitate the interaction between EBSI and the legal entities responsible for issuing and verifying the credentials.
Moreover, the blockchain expert will also contribute to the development of keeper wallets that will enable EU citizens to store and use their digital credentials with ease. The unrivaled experience of Protokol in user-friendly design will also be used to develop the cross-border user journey.
When we talk about the goals and scope of the collaboration, Lars Rensing, CEO of Protokol noted, “Our involvement in the EBSI VECTOR project is aligned with our broader mission to create scalable and interoperable blockchain solutions that drive innovation and charge.”
The announcement also stated that the scope of the project will gradually expand to create a scalable solution to include other EU initiatives, such as EUeID. This will help develop more solutions to facilitate smoother interactions between individuals and organizations across the EU.
Daniël Du Seuil, Convenor of the European Self Sovereign Identity Framework (EBSI) at the European Commission, also shared his optimistic view on this endeavour. He said, “We are delighted to have Protokol onboard the EBSI VECTOR project. Their deep blockchain and Web3 expertise will be invaluable in our mission to improve the digital credential verification process.”