PM Bettel Launches Infrachain Initiative in Blockchain Area at LU-CIX Event

On Wednesday Luxembourg’s Prime Minister and Minister for Satte, Xavier Bettel, participated in the Luxembourg Internet Days 2016 organised by the Luxembourg Commercial Internet Exchange (LU-CIX).

In his speech, PM Bettel underlined the capacity of the Luxembourg ecosystem to adapt quickly to circumstances in constant change. “We want to remain the actors of our future, not just remote observers of technological evolutions.” In order to prepare the Luxembourg ecosystem for a major technological opportunity, blockchain technology, PM Bettel, within the initiative Digital Lëtzebuerg, announced the launch of the Infrachain initiative. The recent signing of a memorandum of understanding between five private and public actors aims to develop a common blockchain infrastructure.

Work will begin immediately with the setting up of working groups whose objectives are to establish a governance structure, to establish a common technical basis and to make this infrastructure in line with the legal framework in force. In addition to the five signatories of the MoU (Digital Letzebuerg, CTIE, LuxTrust, Telindus, InTech), participation in working groups is open to all stakeholders wishing to contribute to this initiative.

The creation of a trusted blockchain infrastructure, developed jointly by the public and private sectors, aims to facilitate the deployment of solutions based on blockchain technology, both for startups and established actors, within a regulated framework favouring Confidence for end users and investors. On the sidelines of the event, the Prime Minister had meetings with representatives of companies from the young sector of blockchain technologies to exchange on technology and its economic opportunities for Luxembourg.