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 aiming to “unlock the full transformational potential and harness the benefits of blockchain and DLT for businesses, the public sector and society at large”.
Launched with a ceremonial digital signing at the European Commission headquarters, INATBA will promote the use of blockchain technology by developing a “predictable, transparent, and trust-based global framework”.
The 105 founding members include IBM, Ripple Labs, Consensys AG, Iota and Bitfury. A further 48 organizations have applied for membership
The official Launch and Declaration were placed on multiple blockchains using Quant’s Overledger. This is a blockchain operating system overlay that interconnects blockchain and the world’s networks, allowing users to transfer data across multiple chains and existing systems.
The INATBA Joint Declaration Of Support was hashed by the Commissioner: (SHA3–256)ED5F6D40079109D5DAAC9C760825E9D1203F09C08CC988A8D02431C3B68C24B2
Support From International Organizations
“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”.
This initiative also has support from leading international organizations. With the European Commission, the World Bank, the OECD, the UN World Food Program, UNFCCC, UNICEF, the European Investment Bank, the European Bank for Reconstruction and Development, and the OECD all joining INATBA’s Governmental Advisory Board.
All EU Member States and the European Blockchain Partnership are expected to join as governmental advisors.
All organizations involved have declared their “commitment to develop interoperability and sector-specific guidelines and standards, transparent and inclusive governance and ongoing constructive dialogue with authorities and regulators”, to ensure that INATBA will be a significant driver of blockchain innovation and adoption internationally.