EU to use blockchain for educational and professional credential verification

The European Commission has taken steps to implement blockchain technology to change the way educational and professional credentials are verified across borders.

In an announcement on June 7, Web3 and blockchain solutions provider Protocol revealed a collaboration with the EBSI Vector project, an EU-funded project creating a decentralized framework for cross-border verification.

The project will use blockchain technology to develop an upcoming credential verification solution that aims to simplify the process for EU citizens to have their credentials recognized and accepted in different countries.

Protocol CEO Lars Rensing said the goal is to create a more open, secure and decentralized digital infrastructure for the EU and beyond.

“We believe that blockchain and Web3 technology have immense potential to transform a wide range of industries and prepare them for the future.”

Users, citizens of the European Union, will be issued a digital wallet created by the protocol to store and use their digital credentials.

According to the announcement, the project will eventually incorporate other EU initiatives, such as EUeID, to further solutions to create seamless connectivity between people and organizations.

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This work with the protocol is part of a larger project to create an interoperable framework for EU-wide blockchain-based services called the European Blockchain Services Infrastructure (EBSI) initiative.

EU leaders have been active in welcoming but also regulating emerging Web3 technologies. On May 31, the regulator signed off on the Markets in Crypto-Assets (MiCA) Bill, following the final approval of the Finance Minister.

MiCA was first introduced in 2020 and since then it has been a major talking point in the industry. The main objective of the bill is to create a consistent regulatory framework for crypto assets for EU member states.

Companies in the space are eyeing the final call on regulation. Blockchain technology platform Bakkt says it is looking to the European Union after MiCA.

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