The International Association for Trusted Blockchain Applications (INATBA) recently published a report exploring EU consortia and global trends in industrial blockchains. It’s a broad report that looks at both public consortia such as Europe’s EBSI/Europeum and private consortia across several industry sectors. Blockchain has been embraced far more in some sectors than in others. It’s strong in mobility, energy and circularity. The surprising area where DLT appears to have less traction is supply chain and digital product passports. However, this is at the level of consortia. In many cases, individual companies are making strong headway.
One observation we’d add is that there are a lot of European consortia compared to the United States. Which brands come to mind when you think about innovation? Are they in the US or Europe? Consortia are notoriously hard and have a poor track record of success. We’ve particularly seen that over the years with blockchain consortia. Often startups have a better chance of success if they set up as a vendor. Or better yet, if they create a solution that adds interoperability to existing vendor solutions in a particular industry.
That said, some of the biggest names in finance started as consortia: think Visa, Mastercard and Swift.
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