After Norway and Liechtenstein, Ukraine turned the third nation outdoors the European Union (EU) to affix 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 affix the EBP as an observer on June 17. With the final word aim of integrating its digital financial area with the EU, Ukraine plans to broaden its interstate blockchain community partnership with different international locations.
Ukraine’s intent to affix 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 Property 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 Companies Infrastructure (EBSI). von der Leyen later confirmed the prospect of Ukraine’s accession to the EBP as an observer.
Talking to Cointelegraph, Yarmolenko acknowledged Ukraine’s curiosity in working test-node of the EBSI and pilot use circumstances of the cross-border public providers based mostly 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 based mostly on EBP/EBSI initiatives.”
After working with the EBP on blockchain pilot use circumstances as an observer, Ukraine goals to realize full membership. Yarmolenko additional revealed that Ukraine is concentrating on further blockchain partnerships to offer the residents of Ukraine with cross-border public providers together with verification of academic credentials/diplomas and identification credentials and refugee/asylum registration and help.
Whereas sharing particulars in regards to the partnership, Yarmolenko acknowledged that the transfer to affix the EBP is a option to strengthen ties with the EU, including that “I’d even name it blockchain integration with EU.”
Moreover, stating one of many benefits of the EU-wide blockchain partnership, Zhmerenetsky burdened that Ukraine’s accession to the EBP would scale back the popularity of Ukrainian paperwork for greater schooling and driver’s licenses for Ukrainian refugees in Europe.
Mairead McGuinness, the Commissioner for Monetary Companies, Monetary Stability and Capital Markets Union on the European Fee, lately 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 Property (MiCA):
“MiCA guidelines would be the proper instrument to deal with the issues on client safety, market integrity and monetary stability. That is one thing that’s so pressing given latest developments.”