The European Commission and the Association of German Banks (Bankenverband) are the co-authors of the ‘Tokenise Europe 2025’ initiative. The goal is to promote the potential of tokenisation of assets and Distributed Ledger Technology (DLT). Creating favourable conditions for the development of a token economy is to facilitate the creation of new services and business models in many industries and sectors of Europe’s economy, such as finance, supply chains, trade finance, logistics, and public services.
As part of Tokenise Europe 2025, a report has recently been published: ‘Should Europe develop into a token economy?’. The report is divided into 3 thematic areas: (1) the vision of Europe in the future: the impact of tokenisation technology on the future of Europe, (2) explanation of tokenisation and its importance for Europe’s industrial transformation and digital sovereignty, (3) steps that can be taken to foster the token economy in Europe between now and 2025.
The report also identifies main issues that are holding back the development of tokenisation, for example: a diffuse and unclear legal and regulatory framework, and the lack of a broader understanding of DLTs and blockchain technology both in the public at large and among decision makers.
To find out more about Tokenise Europe 2025, see:
https://fintechnews.ch/blockchain_bitcoin/eu-tokenise-europe-2025-initiative-aims-to-boosts-asset-tokenization/58183/
Report ‘Should Europe develop into a token economy?’:
https://www.santander.com/content/dam/santander-com/es/documentos/notas-de-prensa/2023/01/np-2023-01-19-informe-tokenise-europe.pdf