Introduction to the Dutch Blockchain Coalition

Yellowblock
Yellowblock November 2, 2020
Updated 2020/11/02 at 10:47 AM
5 Min Read

What is the Dutch Blockchain Coalition (DBC)?

It is a joint venture between partners from the government, educational institutions and technological experts whose main goal is to build reliable and socially accepted blockchain applications together.

The coalition aims to create an environment that is robust and trustworthy for everyone to use, as it is vital for the adoption of the growing demand from companies, government bodies and citizens to use large-scale blockchain applications.

Essentially becoming a facilitator that activates and connects this technology within the broader public-private network.

 

The Agenda

The focus of the Dutch Blockchain Coalition lies in arranging the fundamental principles of blockchain.

  • Ensuring that the technology works well.
  • Developing the conditions for blockchain, such as explaining and applying government legislation.
  • Developing education and talent.

The Dutch Blockchain Coalition makes agreements about standardisation, norms and governance. It does this with parties like ISO and the European Commission.

 

Implementation

A large number of blockchain exploratory studies have led to proofs-of-concept and the DBC’s partners have selected the most promising use cases.

These use-cases are valuable applications of a new technology that we can immediately benefit from, some of these experiments include:

 

Conditions

As the industry and demand for blockchain technology grows the Dutch Blockchain Coalition ensures that there is a solid base for social, legal, ethical and economical aspects of each application.

It is thus vital that the DBC works on such ‘good conditions’ under which blockchains can be used; offering an independent, cross-sectoral platform to relevant stakeholders from government, industry, society organisations and researchers.

 

Future-proof

A significant challenge lies in developing standards for interoperability and reliability of the technology and the information that is processed via blockchains. They should preferably be worldwide standards and norms that are also compatible with European views, values, norms and regulations.

Blockchain applications are most effective if they can be used in complex and large-scale contexts. Collaboration is therefore needed with European and worldwide stakeholders, such as the European Commission, but also parties such as the OECD, World Bank and IMF.

More intensive involvement from the humanities, social sciences and natural and engineering sciences will also be required.

 

Role of supervisory bodies

The role of governments, supervisory bodies and advocacy groups concerning blockchain also needs to be considered. This concerns aspects such as governance of blockchain, regulation and market formation, legal liabilities, protection of privacy, consumer protection, conflict mediation and arbitration, contract law, new roles of trusted third parties, roles of identifying and certifying parties, the functioning of smart contracts, the right to be forgotten, and new possibilities and roles of compliance and audit functions.

Due to the transformative impact of blockchains, sufficient engagement needs to be sought with the strategic leadership of businesses, institutions, policy and supervisory bodies.

With ecosystem partners, a joint ownership needs to be developed, managed and guaranteed for joint hybrid business processes, which requires further development of the standard model of business production. Business services such as accounting, risk management, corporate governance and financing will also need to adapt and develop instruments to accommodate this development.

 

Coalition Partners

The Dutch Blockchain Coalition’s network includes partners from the Dutch government, financial and IT sector, research institutes, plus several colleges and universities.

 


 

The blockchain technology is a disruptive technology with immense value propositions to the current structure used by today’s governments, companies and citizens.

It is vital for ventures like the Dutch Blockchain Coalition to ensure that this technology gets implemented and adopted ethically and legally, drastically speeding up the value conversion that we can benefit from such innovation.

If you with to learn more about the Dutch Blockchain Coalition check out their website here.

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