The State of Luxembourg has collaborated with the private sector to incorporate Infrachain a.s.b.l. – a non-profit dedicated to leapfrogging the adoption curve of blockchain solutions in a trusted and compliant-aware manner.
The private sector members are a mix of larger and smaller, technical and non-technical entities that see business opportunities arising from blockchain technology. These are: InTech, LuxTrust, Telindus, Snapswap, Scorechain, KYC3, Bitbank, Grant Thornton – Abax Consulting, Deloitte, KPMG and Allen & Overy.
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Infrachain is a part of Luxembourg’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.
A cross-industry effort not only focused 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 operation.
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.