United in Diversity: A Blueprint for the Pan-European Distributed Ledger

Recent legislative developments in Europe showcase policymakers' diverging approaches to cryptocurrencies and a wider array of non-monetary Blockchain applications.

On April 10, Europe came one step closer to establishing a common approach to the implementation and regulation of Blockchain technology.

A Declaration on a European Blockchain Partnership brought together 20 EU member states, Norway, and the departing United Kingdom in an expression of a shared vision and policy goals.

The agreement, sealed during the European Commission's Digital Day 2018, offers a number of insights into how the continent's policymakers conceive of Blockchain's potential uses and governance.

A major point that is immediately clear from the language of the declaration is that it is primarily about Blockchain as a service rather than as a financial instrument.

Mariya Gabriel, who is in charge of the Digital Single Market as the EC's Commissioner for Digital Economy and Society, sounded unequivocal when she contended that "In the future, all public services will use Blockchain technology."

The ultimate goal here is to ensure the smooth operation of Blockchain infrastructure across national borders, as well as to bolster economies of scale.

The latter effects are supposed to be associated with operating within a system that is standardized up to the interface level, as opposed to a "Plethora of non-interoperable private Blockchains." The use of such language invites broad interpretations as to the degree of the proposed technological confluence, as it could be construed to describe something as ambitious as a unified European distributed ledger.

Now, the first step that each of the signatories will take under the agreement's provisions is designating a representative to work with the European Commission on Blockchain matters.

The EC expects that the first cross-border actions on the European Blockchain will be performed by the end of 2019.