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EU Blockchain Observatory and Forum
Press release24 May 2024Directorate-General for Communications Networks, Content and Technology2 min read

EU Blockchain Observatory & Forum Concludes Third Contractual Round with Comprehensive Report Highlighting Achievements and Future Trends

EUBOF Conclusion Report

Brussels, May 24, 2024 – The EU Blockchain Observatory & Forum (EUBOF) has released its conclusion report, marking the end of its third contractual round. The report, a testament to four years of dedicated research and innovation, encapsulates the activities, achievements, and impacts of EUBOF while providing insights into the future of blockchain technology in Europe.

Key Highlights from the Report:

Deep-Dive Analysis and Thematic Reports: Over the past four years, EUBOF has produced 20 high-quality thematic reports. These reports offer in-depth analysis and insights into various aspects of blockchain technology, including its applications in sectors like healthcare, energy, and automotive, as well as emerging trends such as Non-Fungible Tokens (NFTs), Central Bank Digital Currencies (CBDCs), and Decentralised Finance (DeFi).

Blockchain Ecosystem Developments: The flagship report on the EU Blockchain Ecosystem, published in 2020, provides a detailed assessment of the regulatory and ecosystem maturity levels across 27 EU member states, plus the UK and Switzerland. This report highlights leading countries in blockchain maturity, including Cyprus, Estonia, Malta, and Switzerland.

Conferences and Webinars: EUBOF organized more than three major hybrid events and over 30 online and physical workshops. These events have served as platforms for stakeholders, academia, and policymakers to share insights and contribute to the creation of a robust blockchain community in the EU.

Expert Network and Community Building: One of the most significant achievements of EUBOF has been the development of a robust and engaged network of blockchain experts. This network has been instrumental in mapping projects, linking stakeholders globally, and fostering collaboration and innovation.

Future Trends: The report identifies several emerging trends poised to shape the blockchain landscape, including the convergence of blockchain with Artificial Intelligence (AI), the growth of DeFi, enhanced interoperability between blockchain networks, and a push towards more sustainable and energy-efficient blockchain solutions.

Policy Recommendations: EUBOF has provided several policy recommendations to support the growth and adoption of blockchain technology in the EU. These include promoting European actors, reinforcing engagement with multiple stakeholders, mapping key initiatives, and serving as a global knowledge hub on blockchain.

Forewords from the European Commission and EUBOF Team

Pierre Marro, Senior Policy Officer at the Directorate-General for Communications Networks, Content, and Technology, European Commission, commended the work of the Observatory, stating, "The valuable work of the Observatory, including its thematic papers and workshops, will remain an essential resource for stakeholders, academia, and policymakers exploring future advancements in blockchain technology."

The EUBOF team expressed their pride and sense of accomplishment in presenting the conclusion report. "Our achievements are a testament to the dedication and expertise of our team and the active community of experts we have built," said Tonia Damvakeraki from Netcompany-Intrasoft. "As we conclude this phase, we look to the future with optimism, confident that the impact of our work will be felt for years to come."

Looking Forward

EUBOF's conclusion report not only reflects on past achievements but also sets the stage for future developments in the blockchain ecosystem. The report serves as a valuable resource for policymakers, industry leaders, academics, and blockchain enthusiasts, providing a comprehensive understanding of the current state and future potential of blockchain technology in Europe.