Ukraine joins the European Blockchain Partnership

  • Ukraine plans to expand its interstate blockchain network
  • They aim to integrate its digital economic space with the EU
  • Ukraine now becomes the third non-EU country to join the partnership

After Norway and Liechtenstein, Ukraine turned into the third country outside the European Union (EU) to join the European Blockchain Partnership (EBP), a drive determined by 27 part states to convey cross-line public administrations.

The Ministry of Digital Transformation of Ukraine declared the nation’s transition to join the EBP as a spectator on June 17. With a definitive objective of coordinating its computerized monetary space with the EU, Ukraine intends to extend its highway blockchain network organization with different nations.

Ukraine’s expectation to join the EBP traces all the way back to July 2021, when Oleksii Zhmerenetskyi, the top of the Parliamentary gathering, Blockchain4Ukraine, and Konstantin Yarmolenko, the organizer and CEO of Virtual Assets of Ukraine, composed a letter to Ursula von der Leyen , the leader of the European Commission.

Ukraine’s intent to join the EBP dates back to July 2021

The letter proclaimed Ukraine’s advantage in joining the EBP and the European Blockchain Services Infrastructure (EBSI). von der Leyen later affirmed the possibility of Ukraine’s increase in the EBP as an eyewitness.

Addressing Cointelegraph, Yarmolenko expressed Ukraine’s advantage in running a test hub of the EBSI and pilot use instances of the cross-line public administrations in light of the blockchain innovation. He featured that the digital currency gifts during the Russia-Ukraine war demonstrated as significant help, expressing that the following stage is full blockchain reconciliation of Ukraine and EU in view of EBP/EBSI drives.

In the wake of working with the EBP on blockchain pilot use cases as an eyewitness, Ukraine expects to acquire full participation.

Yarmolenko further uncovered that Ukraine is focusing on extra blockchain associations to furnish the residents of Ukraine with cross-line public administrations including a check of instructive accreditations/recognitions and character qualifications and outcast/refuge enrollment and backing.

While sharing insights concerning the organization, Yarmolenko expressed that the transition to join the EBP is a method for reinforcing attaches with the EU, adding that he’d try and call it a blockchain combination with the EU.

ALSO READ: Eric Adams suddenly feels fine about crypto mining

Ukraine’s accession to the EBP would reduce the recognition of Ukrainian documents

Moreover, calling attention to one of the benefits of the extensive blockchain association, Zhmerenetsky focused on that Ukraine’s promotion to the EBP would diminish the acknowledgment of Ukrainian reports for advanced education and driver’s licenses for Ukrainian displaced people in Europe.

Mairead McGuinness, the Commissioner for Financial Services, Financial Stability and Capital Markets Union at the European Commission, as of late featured the requirement for managing all crypto-resources — whether they’re unbacked crypto-resources or something like that called stablecoins.

The EU official likewise unveiled plans to examine a proposition with the French government through Markets in Crypto Assets MiCA rules will be the right instrument to address the worries on purchaser security, market honesty and monetary soundness. This is the kind of thing that is so pressing given late turns of events.

Latest posts by Ritika Sharma (see all)

New Technology Era

Leave a Reply

Your email address will not be published.