Yesterday the European Commission unveiled the European Blockchain Regulatory Sandbox. The sandbox is targeting corporate solutions and public sector projects that are creating decentralized applications using blockchain technology and getting ready to launch. The aim is to provide legal clarity through a dialogue with regulators. The first call for participants will start on April 14.
Projects between public authorities that use the European Blockchain Services Infrastructure (EBSI) will have priority. But for the next three years, up to 20 private sector projects with a cross border focus will be selected annually and they do not have to use EBSI infrastructure and can use public blockchain. Companies can be any size, provided they are based in the European Economic Area ( EEA ), including Norway, Iceland and Liechtenstein.
This sandbox should not be confused with the DLT Pilot Regime, which is targeted at the financial markets. The DLT Pilot Regime comes into effect in late March.
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