EU Blockchain Association INATBA Launches With 105 Members

Yesterday was the formation of the The International Association of Trusted Blockchain Applications (INATBA), a European blockchain association with the future of this technology in mind.

Banding Together

The goal with INATBA is to “promote the use of blockchain technology by developing a predictable, transparent, and trust-based global framework,” reads a press release. Additionally, the group has “strong support” from world leaders. Examples include the UN World Food Program, UNICEF, and the European Investment Bank, for instance.

Yesterday was also the organization’s ceremonial digital signing, which took place at the European Commission headquarters. There, the European Commissioner for Digital Economy and Society, Mariya Gabriel, gave a keynote speech:

“We are thrilled to see that over 100 companies and organizations have partnered together to help develop the framework for distributed ledger technologies in Europe. It clearly signifies that blockchain technology will be a driving force for our economy in the coming years, and through INATBA we will be able to foster an environment that encourages the application of the technology across the EU member states.”

An Objective-Based Future

Otherwise, INATBA has three primary missions. Firstly is to “promote an open, transparent and inclusive global model” of blockchain governance. An ideal model would be one that benefits every group staked in a network. This could be from start-ups to governments to civil society organizations, and more.

Secondly, the group will “support the development and adoption of interoperability guidelines, specifications and global standards”. This will ensure a user-focused digital experience, with an “open” and “inclusive” method that provides for all stakeholders.

Thirdly, INATBA will help form “sector-specific guidelines” and frameworks for “the development and acceleration” of specific blockchain technology. This will also focus on distributed ledger technology applications in the health, supply chain, and energy industries.

Of the 150 organizations, some highlights include Accenture, IBM, Ripple Labs, and R3 LLC. Companies interested in joining up can send an email to CNECT-EUBLOCKCHAIN(at)ec.europa.eu for more information.