Geopolitical Manoeuvring in Blockchain Standardization: A Comparative Analysis of the EU and US Approaches

This study examines the standardization of blockchain technology and its applications across the EU, U.S., and ISO. It reveals the continued dominance of the United States in this field, driven by its focus on technological intricacies and institutional support, notably from NIST. Conversely, the EU's approach begins with reliance on ISO standards, potentially resulting in fragmented standardization and limited proprietary blockchain development. The introduction of EUROC as a competitor to USD-pegged stablecoins illustrates the EU's strategy to challenge U.S. technological dominance, facilitated by initiatives like MiCA. This geopolitical manoeuvring underscores the EU's aspiration to solidify its position in the global blockchain landscape by leveraging standardization as a tool for competitiveness and technological influence.