This 18th of May, 11 private actors and the State of Luxembourg incorporated the non-profit Infrachain a.s.b.l. dedicated to leapfrog the adoption curve of blockchain solutions in a trusted and compliant-aware manner. The private actors are a mix of larger and smaller, technical and non-technical entities that see business opportunities arising from a technology that provides substantial efficiency while creating new legal and business model challenges. The actors, in no particular order, are: InTech, LuxTrust, Telindus, Snapswap, Scorechain, KYC3, Bitbank, Grant Thornton – Abax Consulting, Deloitte, KPMG, Allen & Overy and the State of Luxembourg.
Infrachain is a part of the Luxembourg ecosystem’s efforts to position itself as a blockchain competence hub and to attract the rare but much needed blockchain developers to the country. “The state is fulfilling its role as a kickstarter and a coordinator while leaving technological and commercial choices to the industry. With this project, we prove once again how Digital Lëtzebuerg can help our ecosystem by kickstarting meaningful projects in cutting-edge technology”, stated Xavier Bettel, Luxembourg’s Prime minister and minister of Telecommunications.
While acting as a cross-industry effort not only focussed on financial services, Infrachain strives to build a common community blockchain-as-a-service platform able to bring the numerous blockchain proof-of-concepts into operations. By providing a blockchain-technology-agnostic governance layer on top of community-hosted blockchains backed by service level agreements, Infrachain can serve as a deployment infrastructure with the flexibility and legal framework of private chains and the transparent governance of public chains. “Being able to bridge the gap between the emerging blockchain technology and the regulatory and legal environment, is essential for the adoption of this revolutionary technology”, stated Marco Houwen, Infrachain’s current project lead.
If you are interested in joining the Infrachain community or want to know more about the platform, you can check out https://infrachain.com/. The site will soon be updated with a white paper detailing technical and governance principles.
Press release by Deloitte