The EU Blockchain Observatory reportedly disclosed details regarding an urge for tenders to contract a consortium, with the primary goal of supporting and functioning a pan-European regulatory sandbox For DLT.

Specifically, one significant goal for the future consortium to work towards will reportedly be offering “comprehensive legal advice”, regarding the operation of the core services of the European Blockchain Services Infrastructure (EBSI).

The regulatory sandbox is reportedly anticipated to be a sphere in which regulators, blockchain enterprises and users will have interactions “in a trusted environment.”

Apart from the currently available EBSI initiatives, it will reportedly also support a vast array of prospective blockchain applications throughout key industry sectors, with a necessary condition for that kind of initiatives to complete a proof of concept.

As the release goes, the ultimate target of the sandbox is reportedly to “to foster a dialogue between national and EU-level regulators and lawmakers with companies and thus remove legal uncertainties for use cases based on decentralized solutions”.

The plans to build a regulatory sandbox for blockchain were reportedly revealed by the European Commission and the European Blockchain Partnership (EBP) two years ago. 

Per the release, four EBSI-hosted use cases have reportedly been moved to an advanced development stage, with three extra use cases that have just been finalized for deployment.

The development reportedly surfaced together with an announcement of the European Blockchain Observatory spending resources on a revised version of the report, regarding the most recent developments in the EU blockchain ecosystem.