A new EU blockchain association was launched yesterday with the aim to promote blockchain technology in Europe. The International Association of Trusted Blockchain Applications (INATBA) is planning a “predictable, transparent, and trust-based global framework” in order to foster blockchain adoption. Its 105 founding members, including Ripple Labs, Consensys AG, and Bitfury, will support the development of interoperability of global standards as well as a transparent and inclusive model of governance, according to a press release.
INATBA has a strong international backing—the European Commission, the World Bank, the OECD, UNICEF, and the European Investment Bank are just some of the heavyweights in the group’s Governmental Advisory Board. “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,” said Mariya Gabriel, European Commissioner for the Digital Economy and Society.
“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.”