Europe must become more attractive for digital business models that strengthen European competitiveness.
A simple regulatory framework and better digital skills can boost innovation.
The European Commission and the Association of German Banks have co-founded an initiative on the importance of tokensation with the participation of over 20 member organisations.
19th January 2023.
The importance of tokenisation for Europe – the issuance of a digital representation of a real asset in the form of a token on a distributed ledger infrastructure – is generally underestimated. This is the conclusion of the report of the Tokenise Europe 2025 initiative, co-founded by the European Commission and the German Banking Association with the support of the management consultancy Roland Berger and the participation of more than 20 member organisations from France, Germany, Portugal, Italy, Liechtenstein, Sweden and Spain.
The initiators emphasise the importance of a tokenised economy for Europe in global competition and the need to understand how the new technology creates potential for new services and business models across Europe. However, awareness of this fact has not yet been very pronounced, partly because a uniform legal and regulatory framework has been lacking up to now. Knowledge must be enhanced across the public and private sectors alike to exploit the available potential. Europe has some catching up to do here.
Tokenisation will be a key factor in making the EU more competitive and manifesting its strategic resilience in the coming years. Supply chains, trade finance, logistics and public services can all be transformed into seamless and efficient processes. Introducing a token economy to financial markets will lead to greater efficiency, increased security and trust, while significantly reducing complexity.
Together with more than 20 high-profile partners from the private, industrial, financial and digital sectors, the European Commission and the Association of German Banks collaborated with Roland Berger to produce the Tokenise Europe 2025 initiative report.
You can find the report here.
About Tokenise Europe 2025
The Tokenise Europe 2025 initiative was co-founded by the European Commission and the German Banking Association with the support of the consultancy Roland Berger and the participation of more than 20 member organisations from different countries and industries, aiming to promote the tokenisation of Europe.