The European Economic and Social Committee, EESC, adopted on 30 October an own-initiative opinion on blockchain technology, an attractive tool for redefining security in digital transactions.
According to the EESC, blockchain technology has the potential to transform society, but there is a need for legal clarity and a common EU approach. It, therefore, called on the EU Commission to launch a comprehensive initiative to make the EU a global authority in this field.
The opinion explains that blockchain can be applied in many sectors to increase security and can contribute to achieving the Sustainable Development Goals, and it proposes a new, EU-wide platform that will bring together representatives from the EU institutions, EU states, industry, consumers and academics, and would provide a space for sharing good practices.
It also gives concrete examples of how this technology can be used to harness significant opportunities in the context of the single market, for example by making data processing secure and helping build mutual trust between blockchain participants.