After Norway and Liechtenstein, Ukraine grew to become the third nation outdoors the European Union (EU) to hitch the European Blockchain Partnership (EBP), an initiative derived by 27 member states to ship cross-border public providers.
The Ministry of Digital Transformation of Ukraine announced the nation’s transfer to hitch the EBP as an observer on June 17. With the last word purpose of integrating its digital financial house with the EU, Ukraine plans to increase its interstate blockchain community partnership with different nations.
Ukraine’s intent to hitch the EBP dates again to July 2021, when Oleksii Zhmerenetskyi, the pinnacle of the Parliamentary group, Blockchain4Ukraine, and Konstantin Yarmolenko, the founder and CEO of Digital Belongings of Ukraine, wrote a letter to Ursula von der Leyen, the president of the European Fee. The letter declared Ukraine’s curiosity in becoming a member of the EBP and the European Blockchain Providers Infrastructure (EBSI). von der Leyen later confirmed the prospect of Ukraine’s accession to the EBP as an observer.
Talking to Cointelegraph, Yarmolenko said Ukraine’s curiosity in working test-node of the EBSI and pilot use circumstances of the cross-border public providers primarily based on the blockchain know-how. He highlighted that the cryptocurrency donations in the course of the Russia-Ukraine struggle “proved as necessary help,” stating:
“Subsequent step is full blockchain integration of Ukraine and EU primarily based on EBP/EBSI initiatives.”
After working with the EBP on blockchain pilot use circumstances as an observer, Ukraine goals to achieve full membership. Yarmolenko additional revealed that Ukraine is focusing on further blockchain partnerships to offer the residents of Ukraine with cross-border public providers together with verification of academic credentials/diplomas and id credentials and refugee/asylum registration and help.
Whereas sharing particulars concerning the partnership, Yarmolenko said that the transfer to hitch the EBP is a strategy to strengthen ties with the EU, including that “I’d even name it blockchain integration with EU.”
Moreover, mentioning one of many benefits of the EU-wide blockchain partnership, Zhmerenetsky confused that Ukraine’s accession to the EBP would cut back the popularity of Ukrainian paperwork for increased training and driver’s licenses for Ukrainian refugees in Europe.
Mairead McGuinness, the Commissioner for Monetary Providers, Monetary Stability and Capital Markets Union on the European Fee, not too long ago highlighted the necessity for “Regulating all crypto-assets — whether or not they’re unbacked crypto-assets or so-called stablecoins.”
The EU commissioner additionally disclosed plans to debate a proposal with the French authorities by way of Markets in Crypto Belongings (MiCA):
“MiCA guidelines would be the proper instrument to deal with the considerations on shopper safety, market integrity and monetary stability. That is one thing that’s so pressing given latest developments.”