Cardano (ADA) Turns Bullish in Joining European Commission’s INATBA for Blockchain Apps
As per the latest developments, Cardano Foundation has become one of the founding members of the International Association for Trusted Blockchain Applications (INATBA).
“The launch of this association is already an exciting milestone for blockchain technology adoption and the cryptocurrency industry, and we are honoured and excited to bring Cardano to the forefront of discussions and frameworks being built in Europe,”
reads the official announcement by the Cardano team.
In order to develop a common approach for the European Union, the European Commission is launching its association INATBA that has 105 founding members that are from various industry sectors viz. Startups, SMEs, regulators, civil society, policy makers, and standard-setting bodies.
Cardano Foundation will be joining this global forum as one of its founding members that aim to achieve four set of goals.
- Maintain a permanent and constructive dialogue with public authorities and regulators that will contribute to the convergence of regulatory approaches to blockchain and other distributed ledger technology globally.
- Promote an open, transparent and inclusive global model of governance for blockchain and other distributed ledger technology infrastructures and applications. A model that reflects the shared interests of stakeholders from industry, start-ups and SMEs, civil society organizations, governments, and international organizations.
- Support the development and adoption of interoperability guidelines, specifications, and global standards, to enhance trusted, traceable, user-centric digital services. Upholding an open, transparent and inclusive method of multi-stakeholder cooperation.
- Develop sector-specific guidelines and specifications for the development and acceleration of trusted sectorial blockchain and DLT applications in specific sectors (i.e. financial services incl. financial inclusion, health, supply chain, and energy).
ADA’s Price Movement
While Cardano Foundation is constantly working towards the adoption and regulatory clarity around blockchain technology these kinds of associations and partnerships, Cardano (ADA) is enjoying positive price action as well.
At the time of writing, Cardano has been trading at $0.0489 with more than 5 percent gains in the past 24-hours, as per the data provided by Coinmarketcap. The 11th largest cryptocurrency by market cap is currently the highest gainer amount the top cryptocurrencies.
According to the crypto trader and investor, DonAlt, the ADA charts looks bullish as he says,
“Consolidating in what looks like a bullish trading range. Invalidation of that theory would be a move below the December shakeout. Breakout would lead to a decent sized move to the next resistance. Failure of the trading range and I'd expect ~50% lower. Looks good still.”