The European Commission is implementing educational and professional credentials that can be verified across borders.
On June 7, blockchain solutions provider Protokol announced a collaboration with EBSI Vector, an EU-funded project creating a decentralized framework for cross-border verification. The project will utilize blockchain technology to develop the credential verification solution, simplifying the process for EU citizens to have their credentials recognized and accepted in different countries. Protokol CEO Lars Rensing aims to create a more open, secure, and decentralized digital infrastructure for the EU and beyond.
“We believe that blockchain and Web3 technology have enormous potential to transform a wide range of industries and prepare them for the future.”
EU citizens will receive a digital wallet from Protokol to store and use their digital credentials. This project will incorporate other EU initiatives, such as “EUeID,” to create smoother interactions between people and organizations.
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This project is part of a larger initiative known as the European Blockchain Services Infrastructure (EBSI). EU leaders have been taking an active role in welcoming and regulating emerging Web3 technologies, culminating in the signing of the Markets in Crypto-Assets (MiCA) bill into law on May 31.
MiCA creates a consistent regulatory framework for crypto assets for EU member states. Bakkt, a blockchain technology platform, has expressed interest in the EU post-MiCA.
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