VeChain Joins Industrial Blockchain Task Force with Major Industry Players

• VeChain joining INATBA Task Force with Siemens, Accenture and more.
• The task force will focus on tech projects for EU advancement.
• Together they will influence regulatory compliance and standardization.

The International Association for Trusted Blockchain Applications (INATBA) has initiated the creation of the Industrial Blockchain Task Force. This innovative consortium includes a powerful lineup, featuring big names such as Siemens, Accenture, Fujitsu, and VeChain.

Their aim is to revolutionize industry innovation, evaluate practical use cases, and explore blockchain’s pivotal role in the European market. The task force, established by INATBA, aspires to bring together experts from both public and private sectors.

These collective minds will delve into tech infrastructure projects that deploy blockchain technology, analyzing and discussing their technical foundations. The ultimate objective is to compile a comprehensive report by January 2024, mapping these projects and identifying areas of synergy and potential gaps in their technological underpinnings.

Ricardo Simoes, the Executive Director of INATBA, expressed the significance of this milestone, emphasizing its role in advancing EU collaboration and fortifying the application of blockchain and AI across vital industries.

Above all, the initiative aims to empower industrial decision-makers and drive innovative plans that leverage blockchain and AI technologies, addressing the amalgamation of both in resilient industrial products and processes.

Sebastian Becker, the Board Member of INATBA and initiator of the Task Force, lauded the involvement of major European corporations and the European Commission, highlighting the impact of the status report on future EU policy goals and the evolving technical landscape.

The Task Force will engage in regular meetings, fostering cross-industry dialogue and innovation. Key focus areas include assessing current use cases, advocating for standardization across major industries, and exploring blockchain’s role in EU policy goals, such as the Corporate Sustainability Reporting Directive and forthcoming ESG reporting requirements.

As the Task Force steers toward regulatory compliance in 2024, the group’s insights will significantly shape the EU’s technical landscape, fostering a dynamic and standardized approach to blockchain applications in major industries.