Blockchain Innovation Soars: VeChain Joins Forces with Siemens, Accenture, and Fujitsu

• VeChain collaborates with industry leaders like Siemens, Accenture, and Fujitsu in the INATBA’s Industrial Blockchain Task Force.
• The task force aims to drive innovation, evaluate blockchain use cases, and influence EU policies on technological advancement.

VeChain, a leading blockchain platform, has announced its collaboration with industry powerhouses Siemens, Accenture, and Fujitsu in the newly formed Industrial Blockchain Task Force, under the auspices of the International Association for Trusted Blockchain Applications (INATBA).

Joining forces with industry giants like #Siemens, #Accenture, and #Fujitsu, #VeChain is thrilled to be part of the Industrial Blockchain Task Force. 🚀🚀🚀

Together, we’re driving innovation, evaluating use cases, and exploring blockchain’s role in the EU. 🚄🚂✈️

Learn more:… pic.twitter.com/bXTnQKT48U

— Collin Brown (@CollinBrownXRP) November 12, 2023

Forging a Path in Blockchain Innovation

The Industrial Blockchain Task Force, initiated by INATBA, seeks to unify public and private sector experts in blockchain and Distributed Ledger Technology (DLT) to evaluate and discuss technological infrastructure projects involving blockchain. The task force aims to produce a comprehensive report by January 2024, mapping these projects and analyzing their technical synergies and gaps. This endeavor will aid in fostering innovation-driven decision-making and strengthen the foundation for regulatory compliance efforts across Europe.

Mission and Goals of the Task Force

The primary mission of the Industrial Blockchain Task Force is to empower industrial decision-makers by analyzing diverse efforts in building resilient industrial products and processes that leverage blockchain and AI. This collaborative effort extends to both INATBA members and non-members, ensuring a varied pool of expertise from sectors like energy, automotive, production, and circular economies.

Ricardo Simoes, Executive Director of INATBA, expressed the significance of this initiative,

“It represents a significant step forward in facilitating EU collaboration and underlines the versatility of blockchain use in pillar industries, ensuring technological advancement on public and private sector projects.”

Collaborative Efforts and Strategic Implications

Sebastian Becker, initiator of the Industrial Blockchain Task Force and a Board Member of INATBA, emphasized the importance of this collaboration, especially for the Belgian presidency of the EU. The task force will provide a crucial status report, serving as a guide for companies understanding the technical landscape and for discussions on innovation for the next EU presidency.

Key focus areas of the task force include evaluating existing use cases, promoting corporate and consortial collaboration, advocating for standardization in major industries, and exploring blockchain’s role in upcoming EU policy goals and initiatives. These include creating a corporate and consortial blockchain tech adoption map, listing advanced blockchain capabilities, and providing a coherent overview of blockchain’s current status and its suitable applications.

The Future of Blockchain in the EU

As the EU moves towards regulatory compliance with initiatives like MiCA in 2024, the role of the Industrial Blockchain Task Force becomes increasingly vital. It will summarize the capabilities of blockchain technology in relation to key EU policy goals and initiatives, such as Digital Product Passports, Corporate Sustainability Reporting Directive (CSRD), and forthcoming ESG reporting requirements.

This collaboration positions VeChain and its partners at the forefront of blockchain innovation, contributing significantly to the shaping of the EU’s technological and regulatory landscape in the blockchain domain.