LimeChain is thrilled to announce that the company will be taking part in the development of an EU-wide distributed network of nodes under the European Blockchain Services Infrastructure (EBSI) initiative. LimeChain’s involvement in the project reflects our strong commitment to supporting blockchain adoption across Europe.
What is EBSI
The EBSI reflects the EU’s increased focus on blockchain technology. In 2018, 29 countries, including all EU member states, as well as Norway and Liechtenstein, joined forces with the European Commission to form the European Blockchain Partnership. The EBP is overseeing the development of EBSI, which involves building a network of distributed blockchain nodes to support cross-border public services across Europe.
EBSI utilizes open standards and a transparent governance model, which supports the initiative’s goal of creating a market-friendly ecosystem. EBSI aims to streamline administrative processes, increase efficiency and enhance trust between network peers. Improving transaction traceability and ensuring data harmonization is also among the social and economic benefits the project is expected to deliver. Notably, EBSI is set to create opportunities for businesses and public organizations across Europe, as well as EU citizens:
- Citizens will be able to control and secure their personal data and easily use their credentials to move across European borders.
- Businesses will be able to interact with regulators and government agencies more easily thanks to reduced friction and administrative costs.
- Public administrations will be able to combat fraud more effectively, increase trust and bolster their data authenticity verification capabilities.
EBSI use cases
Since 2020, EBSI has been deploying distributed nodes across Europe, aiming to support an initial set of four use cases:
- European Self-Sovereign Identity – the goal is to enable users to create and control their own identity across borders without relying on centralised authorities;
- Diplomas – this use case aims to provide EU citizens with digital control over their educational credentials, which would significantly reduce verification costs and improve trust in documents authenticity;
- Notarization – this use case seeks to leverage blockchain technology to create trusted digital audit trails, automate compliance checks, and prove data integrity;
- Trusted data sharing – here blockchain technology is being used to securely share data, for example, IOSS VAT identification numbers and import one-stop-shop, among customs and tax authorities in the EU.
What does EBSI mean for Bulgaria?
EBSI presents a co convenient path towards digitalization for the Bulgarian administration. The EBSI roll-out in Bulgaria will enable robust cross-border services powered by open-source blockchain technology. It will enhance the way citizens and businesses interact with the relevant authorities and regulators.
As part of the wider initiative, Bulgaria is set to have its own node, which will facilitate the implementation of two of the initial four use cases, namely Self-Sovereign Identity and Notarization. Spearheading the effort is a Bulgarian consortium consisting of four partnering companies – LimeChain, INDUSTRIA, ReCheck, Aeternity Ventures, and The Edge.
The Consortium and LimeChain’s role
The consortium, which is co-financed by the Connecting Europe Facility of the European Union, is led by INDUSTRIA, a technology consulting and development firm specializing in distributed ledger technologies, smart legal contracts, app development, and UX design. In accordance with its leadership role in the consortium, INDUSTRIA will be taking on project management, organization, and overall governance responsibilities.
As a company with extensive experience in the field of public and private blockchain development, LimeChain will be leading the development and design of the Self-Sovereign Identity use case. Implementing this use case will streamline data sharing, help improve the personal privacy of Bulgarian citizens and strengthen digital trust.
The deployment and maintenance of the Bulgarian EBSI node will be handled by ReCheck, which will also lead development on the Notarization use case that supports registration of documents and transactions using digital signatures in a GDPR-compliant way. ReCheck specializes in the development of blockchain-based solutions.
Meanwhile, The Edge, which is a new spin-off company of Junior Achievement Bulgaria, will handle the development and maintenance of the national Helpdesk and the design and delivery of the classroom training program.
Finally, blockchain-focused VC firm Aeternity Ventures will be responsible for delivering an online training program and developing specific tools and technical resources.