The Open Customs Blockchain Working Group represented by the Open Logistics Foundation, ALS Customs Services and the Fraunhofer IML have been selected as part of the inaugural cohort of 20 use cases chosen for the European Blockchain Regulatory Sandbox. This initiative, spearheaded by the European Commission, is a pivotal step towards enhancing the legal certainty surrounding Blockchain and Distributed Ledger Technology. It offers a structured approach for constructive regulatory discussions between innovators and regulators, spanning diverse industry sectors.
The work of the Open Customs Blockchain revolves around the digitalization of customs processes. The direct involvement with customs authorities, bolstered by expert legal counsel by Bird&Bird that is combined with the scientific knowledge of Fraunhofer IML and the practical expertise of ALS Customs Services ensures a comprehensive approach to the regulatory dialogue. Additionally, the outcomes will be integrated into the work of the Open Logistics Foundation, delivering collective benefits to all its members.
The Open Customs Blockchain Working Group encourage like-minded individuals and organizations to become part. The participation can help shape the landscape of Blockchain technology, regulatory compliance and customs by developing open source blockchain components for customs processes.