INATBA, the International Association for Trusted Blockchain Applications, has established the Industrial Blockchain Task Force to evaluate blockchain technology projects in Europe. The task force, which includes industry players like VeChain, aims to promote innovation and collaboration in industrial sectors using blockchain. Its main objective is to produce a comprehensive report by January 2024 that maps these projects, evaluates their technical foundations, identifies synergies, and addresses any gaps. This report will provide valuable insights for decision-makers, foster innovation, and strengthen reporting and regulatory compliance efforts across Europe.
VeChain is excited to be part of the Industrial Blockchain Task Force, alongside industry giants such as Siemens, Accenture, and Fujitsu. Together, they are driving innovation, evaluating use cases, and exploring the role of blockchain in the EU.
The core mission of the task force is to empower industrial decision-makers by analyzing projects that build robust industrial products and processes using the synergy of blockchain and AI. VeChain, with its expertise in blockchain technology and its applications in supply chain management and product authentication, plays a significant role in this collaborative effort.
Ricardo Simoes, Executive Director of INATBA, emphasizes the importance of this initiative in facilitating EU collaboration and showcasing the versatility of blockchain in pillar industries. Sebastian Becker, the initiator of the task force, highlights its significance for the EU’s future technology landscape and innovation discussions.
The key focus areas of the Industrial Blockchain Task Force include evaluating existing use cases, promoting collaboration, advocating for standardization, and exploring blockchain’s role in upcoming EU policy goals and initiatives. Task force members will actively participate in bi-weekly meetings, benefiting from a dynamic, cross-industry environment and collaborating with experts from diverse fields. VeChain’s insights into supply chain and product authenticity will contribute to these discussions and potentially revolutionize these areas in the industrial sector.
As utility tokens move towards regulatory compliance with MiCA in 2024, the Industrial Blockchain Task Force, with VeChain’s participation, will play a crucial role in summarizing blockchain technology’s capabilities, especially in relation to EU policy goals and initiatives such as Digital Product Passports, Corporate Sustainability Reporting Directive (CSRD), and forthcoming ESG reporting requirements.
VeChain, along with other key industry leaders, is steering this task force. Those interested in participating in this transformative initiative are encouraged to get involved and help shape the future of technology integration.
