Enterprise Ethereum Alliance (EEA) Welcomes eBay & Foxconn to Blockchain Consortium

Enterprise Ethereum Alliance (EEA) Welcomes eBay and Foxconn to Their Open-Source Blockchain Platform

The Enterprise Ethereum Alliance is the largest blockchain association of its kind. With their partnerships, they have made it possible to support the concept of smart contracts on a blockchain with partnerships that involve everyone from startups to Fortune 500 companies. Their most recent partnership includes the addition of eBay and Foxconn, which was announced on June 28^th.

Along with eBay and Foxconn’s introduction, the EEA put out an email that described their plan to bring in another 74 companies, which mostly include blockchain or cryptocurrency projects. However, Foxconn brings electronics manufacturing services to the table, while eBay is one of the largest e-commerce websites online.

With these new collaborations, it is easy to see that the EEA wants to bring blockchain to multiple industries. Foxconn would certainly benefit from the transparency and security that blockchain brings, streamlining management and certifying the production of parts. The transparency alone would help Foxconn to improve its public persona, due to the way that it has been accused by the media and others regarding working conditions.

eBay stands to have many benefits from the addition as well. The transparency of the blockchain helps to make customer-to-customer transactions more reliable, though the consensus system that Ethereum provides that would help to strengthen their ecosystem. Even though they have not suggested the inclusion of cryptocurrency in the past, this partnership would be educational for eBay, in that they may become more comfortable accepting digital assets.

A statement from the EEA reads:

“The EEA is helping to evolve Ethereum into an enterprise-grade technology, providing research and development in a range of areas, including privacy, confidentiality, scalability, and security. […] Membership is open to all individuals and organizations around the globe interested in or developing Ethereum-based technology specifically for, or useful in, enterprise use cases.”

The EEA has only been around since February, but it has experienced impressive growth. Some of the other big names its attracted have been Santander Bank, Cisco, Microsoft, and AMD. With so many companies partnering with the blockchain and crypto asset effort, it will be interesting to see how many changes are implemented with the available technology at each business.

Learn more information about what the EEA means for investors by visiting the official website at https://entethalliance.org/.