PORTUGAL Trends and Developments Contributed by: Nuno Lima da Luz and Tomás Gomes da Silva, Cuatrecasas
EUR58 million, the consortium is meticulously led by VOID Software. By 2026, the project has successfully transitioned from foundational research to the active deployment of highly scalable, exportable blockchain products. The primary objective of the BLOCKCHAIN.PT agen- da is to permanently secure Portugal’s leadership in the European technological landscape by bridging academia and commercialisation. The consortium operates across several vertical work packages, directly targeting crucial economic sectors such as agriculture, healthcare, smart territories, and the new knowledge economy. The collaborative effort spe- cifically aims to launch 26 innovative, market-ready products worldwide, thereby significantly increasing Portuguese high-tech exports over the coming dec- ade. This systemic investment actively ensures that Portugal maintains a vibrant, resilient digital ecosys- tem capable of attracting and retaining top-tier global talent. The practical outcomes of this nationwide agenda are particularly visible in the modernisation of the agricul- tural and supply chain sectors. Notable sub-projects include AmBox, which utilises connected devices and blockchain for verifiable farm-to-fork traceability, ensuring absolute transparency in food production. Another prominent initiative is +VALORCER, which focuses heavily on promoting sustainability and track- ing resources within the national grain sector. These targeted solutions rely on robust permissioned block- chains to securely exchange sensitive data among diverse stakeholders while maintaining strict regula- tory compliance. Furthermore, the BLOCKCHAIN.PT agenda actively addresses the critical intersection of environmental sustainability and digital asset management. Projects such as Bee2WasteCrypto develop intuitive tools that leverage blockchain to manage decentralised waste solutions and incentivise sustainable consum- er behaviour through tokenised rewards. Simultane- ously, the CircularTech initiative aims to profoundly transform waste management by converting struc- tural environmental problems into strategic resources through data-driven circular economy models. By standardising these complex interoperability proto-
cols, Portugal is successfully creating a digital infra- structure that supports multi-layered, environmentally conscious supply chains. Fostering an ecosystem: test beds and regulatory sandboxes To actively accelerate the commercialisation of digi- tal products, Portugal has strategically invested in a comprehensive National Network of Test Beds. These advanced technological facilities are specifically designed to provide essential testing infrastructure for startups and small-to-medium enterprises navi- gating complex regulatory environments. A remark- ably prominent example is the NextGen Test Bed, an ecosystem collaboratively developed by NOVA IMS, SIBS, and Cuatrecasas. This specific infrastructure supports the development and validation of advanced digital solutions directly within the highly regulated electronic payments sector. The NextGen Test Bed provides participating start-ups with a deeply secure, legally controlled environment to confidently test emerging Web3 and AI technolo- gies. By physically and virtually simulating real-world payment networks, companies can proactively ensure regulatory compliance before executing a full market launch. This hands-on ecosystem significantly reduc- es the inherent time and financial risks associated with bringing unprecedented decentralised applications to a mainstream audience. Crucially, it provides vital access to sophisticated technological infrastructure and specialised legal counsel that would otherwise remain cost-prohibitive for early-stage ventures. Beyond domestic initiatives, Portugal has fully aligned its national legal framework with the EU’s DLT Pilot Regime through Decree-Law No 66/2023. This legisla- tion introduces vital flexibility in the registration require- ments for traditional financial instruments traded on DLT-based multilateral trading systems. It allows DLT market infrastructure operators to legally act as the sole financial intermediary for registration purposes, significantly streamlining complex back-office opera- tions. The CMVM serves as the competent authority to grant these specific operating authorisations, ensuring that Portuguese institutions can actively participate in advanced EU regulatory experimentation.
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