Blockchain is often mistaken as being synonymous with cryptocurrency, yet the technology’s potential extends far beyond digital assets. In its essence, blockchain is a secure and transparent way of recording and verifying data, making it valuable wherever trust and accountability are essential. By providing a tamper-proof source of truth, blockchain reduces inefficiencies, streamlines collaboration, and supports regulatory compliance. This makes it a powerful enabler of digital transformation in non-financial use cases, with benefits that can be realised across entire value chains.

There is now a misconception that the technology can only be used to make the transfer of digital assets and value between users more efficient and secure, thanks to the use of digital certificates and a system that prevents the double-spending problem. Nevertheless, blockchain has huge potential, and its decentralised nature means it has applications in a range of sectors

To fully unlock the benefits of blockchain technology and support industries in becoming more competitive, we believe the European Commission should consider how to more effectively encourage its adoption across the EU economy. While the technology’s development remains open‑ended and various sectors continue to explore its applications, a more supportive and forward‑looking policy approach is needed.