INATBA launched on the 3rd of April

Many institutions and companies joined a new blockchain association to promote technology all over the EU or European Union, including Ripple, SWIFT, and IBM. A European Commission initiative, which is the international association of trusted blockchain applications or INATBA, started on the 3rd of April, in Belgium.

INATBA was set as an international multi-stakeholder forum which was focused on bringing together users and developers of blockchain technology, on promoting mainstream adoption all over a few sectors.

The association has some plans to build a framework, to encourage public, as well as private sector collaboration, dialogue with regulators, and also policymakers and legal predictability and ensuring integrity and transparency in blockchain infrastructures.

Additionally, it is also going to develop guidelines and specifications for blockchain, as well as distributed ledger-based applications.

Big names and members participating in the group

On top of all this, the group has some prominent members like BBVA and Barclays Bank, and also the beauty product giant L’Oreal. The plan is to have a lot of blockchain startups which are on-board like Ethereum development studio ConsenSys, BitFury R3, AG, and the crypto hardware wallet designed Ledger and IOTA.

The creation of INATBA was in the public arena for some months now. The head of research and development for new businesses of BBVA, named Carlos Kuchkovsky, said in the past that the association could actually have a significant role to play when it comes to developing blockchain best practices, as well as standards and avoiding fragmentation on a European level.

The launch in Brussels from yesterday is going to see a lot of European Commission officials speaking, which include Marya Gabriel, the Commissioner for the Digital Economy and Society, who is going to provide the keynote. There are also going to be panels such as the discussion of how much potential blockchain possesses.

Promoting the adoption of blockchain tech

One joint declaration of support from the members was also recorded on different blockchains at the event. As it was recently reported, the European Commission launched a lot of initiatives to promote the adoption of blockchain technology.

In the spring of 2018, it formed the European Blockchain Partnership or EBP together with 22 countries that are members, to support the delivery of cross-border digital public services based around the tech.

The European Commission even set up the European Union Blockchain Observatory and Forum, together with ConsenSys as its member. This happened in February of the last year.


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