Blockchain Governance and the Role of Trust Service Providers: The TrustedChain® Network

Abstract

Although the blockchain is widely acknowledged as one of the most disruptive technologies emerged in the last decades, many implementation hurdles at the technical, regulatory and governance level still prevent a widespread adoption of services based on open networks. This research discusses the role Trust Service Providers may play in permissioned blockchains, providing a reliable ecosystem in which services can be safely developed and preserved in the long run. As case study, the paper outlines the main features of TrustedChain®, the first blockchain network of European Trust Service Providers specifically designed for highly sensitive sectors, with cutting-edge applications for public administration, e-government, banking, e-health and industry. Emphasis is thus placed on systemic trust, law compliance, adequate technical performance, confidentiality of transactions and long term preservation of data as essential conditions for blockchain networks to thrive and accomplish complex tasks in an effective and reliable way.

Keywords: AI, banking, blockchain, governance, e-government, e-health, eIDAS, smart contracts, Trust Service Providers, TrustedChain®