European Commission Launches Blockchain Sandbox

The newly launched Sandbox will support 20 public and private projects annually. (source: Unsplash)

On February 14, the Commission launched the European Regulatory Sandbox for Blockchain, allowing companies to test their products and services in a controlled environment with relevant regulators. The first call is open until 14 April 2023.

Running from 2023 to 2026, the Sandbox will support 20 projects annually, including public sector use cases on the European Blockchain Services Infrastructure (EBSI) – a pan-European, public-driven blockchain initiative which aims to support better public services for all of Europe.

The Sandbox will provide legal certainty for decentralised technology solutions, including blockchain, by identifying obstacles to their deployment from a legal and regulatory perspective, all while guaranteeing a safe and confidential environment.

On the one hand, the Sandbox will support businesses in developing their products and services, while on the other it will allow regulators to enhance their knowledge of blockchain technologies and share best practices. 

Supported by the Digital Europe Programme, the EU funding programme focused on bringing digital technology to businesses, citizens and public administrations, the Sandbox will also help Europe reduce the legal uncertainty around blockchain and enable its uptake across sectors.

The European Blockchain Regulatory Sandbox will cooperate with other relevant sandboxing frameworks, in particular the EU Digital Finance Platform and the Artificial Intelligence Sandboxes once established under the AI Act. Given the increasing convergence of innovative technologies, this collaboration will support the development of many new solutions.

The first call will be open until 14 April 2023. It is open to companies from all industry sectors and public entities for projects beyond a proof-of-concept stage and already close-to-market or at an early stage of being operational, involving amongst other technologies the use of DLT. 

For more information, visit the designated webportal for the Sandbox.

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