European Blockchain Observatory releases state of Blockchain report

The European Union Blockchain Observatory &Forum has recently published a report on the state of Blockchain in EU. The report looks at the current and likely future of Blockchain in Europe taking into account large scale blockchain platforms.

According to the report the blockchain ecosystem has been steadily maturing over the past several years, and projects are getting both larger and closer to going live, or have already done so. The report views the first wave of blockchain adoption will be characterized by a large number of permissioned purpose built platform with specific uses cases. These platforms will need to be interoperable just like the internet was. As such the report discusses the issues of scalability, interoperability, and sustainability of these future platforms as well as the governance structures needed for these platforms.

The report believes that governments have a strong role to play to provide clarity on roles and responsibilities, as well as infrastructure. The report takes a look at the key success factors for blockchain based infrastructure. 

The report ends with recommendations. Europe will need to fund next generation solutions, develop standards while allowing for experimentation and implementation of blockchain within European governments.