Over 100 organisations sign International Association of Trusted Blockchain Applications

Bitcoin, cryptocurrency, Finance, Fintech | Wed 3 Apr | Author – Business & Finance

105 organisations representing full distributed ledger technology (DLT) ecosystem announced their commitment to a new platform, the International Association of Trusted Blockchain Applications (INATBA).

The initiative for INATBA came from several participants in the EU Blockchain Industry Round Table, a European Commission hosted group, which has been working to identify the right conditions for blockchain technologies to flourish.

The INATBA will promote the use of blockchain technology by developing a ‘predictable, transparent and trust-based global framework’, and the signing of over 100 companies, “…clearly signifies that blockchain technology will be a driving force for our economy in the coming years,” said Mariya Gabriel, European Commission for the Digital Economy and Society.

DLT is here to stay

Some key objectives of INATBA are to promote an open, transparent and inclusive global model of governance for blockchain and other distributed ledger technology infrastructures and applications, support the development and adoption of interoperability guidelines, specifications and global standards, to enhance trusted, traceable, user-centric digital services and develop sector-specific guidelines and specifications for the development and acceleration of trusted sectorial blockchain and DLT applications in specific sectors.

Worldwide support

The initiative is supported by leading international organisations including 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.