
The European Blockchain Services Infrastructure (EBSI) was present at the European Block Chain Convention (EBSI) in Barcelona, where Europe's Web3 ecosystem celebrated the many advances in innovative decentralised services.
Blockchain is not just about powering decentralised finance (DeFi). As the Web3 conversation matures, we are seeing more and more interest in Decentralised Government (DeGov) services. The European Blockchain Services Infrastructure (EBSI) is a major initiative at EU level, embracing Web3 and the future of eGov.
European innovators and start-ups are slowly starting to replace the Web 2.0 motto 'trust the platform' with Web3s motto 'don't trust, verify'. How? By decentralising verification. This is possible as most of these new decentralised services are underpinned by a common decentralised immutable data register that no single entity controls. In other words, a truly immutable data common.
EBSI project is working with several policy departments of the Commission to help them deliver two main types of use cases using Web3 technologies:
Information shared online is typically easy to fake and difficult to verify. The Web3 model turns things around as information becomes very easy to verify but difficult to fake, without the need to create any sort of central intermediation/platform. In this model, EBSI serves as the fully decentralised trusted registry of information about the issuers of education credentials, including their accreditation by the relevant authority at the national level.
The second family of use cases encompasses the Tracking and Tracing of information, such as fighting counterfeiting by combining the physical product with its digital representation (i.e. a digital twin). EBSI’s work in this area is only at its inception but watch this space for more info soon!
Web3 is still early days but the potential for innovation in public services is massive!
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