The European Blockchain Sandbox has opened its third round of calls for innovative use cases involving Distributed Ledger Technologies.
Public entities and private sector companies in the European Economic Area, including start up and scale-ups, can now apply for the third cohort of the European Blockchain Sandbox with innovative use case projects. Applications for the third cohort will remain open until 31 Jan 2025 at 23:59 CET.
The Sandbox was launched by the European Commission in 2023 to provide a confidential platform for innovative blockchain use cases involving Distributed Ledger Technologies. It gives projects the chance to be at the forefront of the blockchain dialogue and to engage in discussions with regulators and authorities at both national and EU level. It aims to help projects understand novel regulation issues, increase legal certainty and contribute to the development of best practices.
The European Blockchain Sandbox supports 20 projects annually over a three year period, and is open to use cases across the EU/EEA based on any blockchain infrastructure. Blockchain use cases will be selected based on a number of criteria, including the maturity of their business case and their legal/regulatory relevance and contribution to the EU’s wider policy priorities.
Selected use cases will be matched with national and EU regulators. Companies (including start-ups and scale-ups) and public entities with a validated proof of concept are invited to participate. Every year, the most innovative regulator participating in the sandbox will be awarded a prize.
In addition to specialist legal and regulatory advice provided by the law firm Bird & Bird, blockchain companies participating in the sandbox will have the opportunity to discuss regulatory questions that are relevant for them in a safe and confidential environment with relevant regulators/authorities.
Participating regulators and authorities on the other hand, will have the opportunity to enhance their understanding of innovative blockchain solutions, discuss regulatory issues in a cross-border setting with other regulators/authorities, and contribute to the development of best practices at the intersection of innovation and regulation.
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Source: European Commission | Shaping Europe’s Digital Future | News & Views (https://shorturl.at/X8lO5)