Over 100 organisations join EU-backed blockchain association

INATBA aims to unlock the full transformational potential of blockchain and DLT for businesses

The European Union announced the launch of the International Association of Trusted Blockchain Applications (INATBA) on its official website on 3 April. The charter has been signed by more than 100 members including IBM, Accenture and Deutsche Telekom. Among the blockchain-related members are also Iota, Ripple, ConsenSys, and the Sovrin Foundation.

Per the announcement, INATBA aims to bring together industry startups, small and medium enterprises (SMEs), regulators and standard setting bodies to bring blockchainand distributed ledger technology (DLT) into the mainstream. To achieve this massive use of decentralised technologies INATBA is planning on establishing a dedicated regulatory framework that promotes public and private sector collaboration, regulatory convergence, legal predictability and ensures the system’s integrity and transparency.

“In today’s economy, there is less and less time to build trust in the way it happened in the past. To fight cancer, to balance renewable energy, to trace the authenticity of goods, actors must be able to trust one another without meeting face-to-face. And how can we achieve this? Of course, with the help of blockchain,” European Commissioner for Digital Economy and Society Mariya Gabriel noted on the occassion.

Thus, INATBA is launching with 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. 

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