The European Commission announced the operation of the European blockchain management sandboxie on February 15th. The sandboxie also gives interior space to strict regulatory sessions for 20 projects a year until 2026.

Sandboxie first announced it in 2020 and is currently being promoted by several private companies that won the bid in 2022. The assets will come from the data Europe program. The project will be selected by a single academic authoritative expert working group from public and stakeholder applications of "blockchain and other distributed system ledger techniques" under numerous premises.

The applicant will take into account the public administration project in the European blockchain Services Project Infrastructure Construction (EBSI). EBSI is a pan-European blockchain operated through EU member states in collaboration with Denmark and Liechtenstein.

One of sandboxie's members of this year's series will be paired with national and EU national regulators to get specific guidance on trade secret legal proposals, while regulators will have the opportunity to learn about a new blockchain technology.

The deadline for applications for the first batch of projects is April 14. The project must have a proof of concept tested by standards and have a cross-border marketing level.

Projects that have been selected and deployed by senior government officials will be given priority. The head office of the enterprise shall be established in the European Economic Development area (EEA). These enterprises form large consortia with companies outside the European Economic Development Zone to operate, as long as the beneficiaries of the project should take the European Economic Development Zone as the core. Contestants will not be reimbursed for their expenses.

The designated project will be subject to written legal and regulatory assessments, followed by two virtual meetings with participating regulators. The EBSI early adopter Entrepreneurship Incubator program is still accepting the third batch of applications.

A similar sandboxie plan was put forward in the Financial Services Innovation Act of Patrick McBurt, a foreign American congressman. The United States is also likely to obtain a similar sandboxie plan in the next round of financial information service reform and innovation.