Ripple Joins 105 Others in Collaborative Effort to Improve the Blockchain Sector with INATBA Position
The new International Association for Trusted Blockchain Applications (INATBA) officially has Ripple, the multi-solutions firm and also XRP pioneer, as a founding member. Ripple, along with over a hundred other different firms will join forces to run the association.
The association is designed to offer a solid opportunity for institutions and major stakeholders in the blockchain technology sphere, to interrelate and network with all the major regulators and policy makers. The enterprise is a considerably bold one because it puts many institutions (even rival companies) together, for the purpose of moving the industry forward especially with solving problems and also increasing the chances of adoption.
According to Brad Garlinghouse, the CEO of Ripple:
“It’s an honor and really a privilege for us to be one of the founding members of the International Association for Trusted Blockchain Applications. This really is a pivotal time for the distributed ledger technology industry. It’s critical that as an industry we come together and engage with regulators and governments globally. The work we are seeing with the European Commission is pivotal and can be leading in this effort. We’re thrilled to be involved and look forward to being a leading participant.”
The major objectives of INATBA include the following:
- To establish and sustain constant and productive communication with the government and all other public stakeholders to clarify and also improve on current regulations as they may affect blockchain and distributed ledger technology worldwide.
- Stimulate and encourage a model of governance that endorses transparency and openness regarding a framework that would consider the challenges and interests of all stakeholders at all levels in both the private and public sectors.
- Provide substantial backing for the development of strategies to foster interoperability and maintain definite and trusted global standards for blockchain technology.
- To also develop these strategies and guidelines as they may affect each sector specifically for the development and hastening of reliable blockchain and distributed ledger applications as they may be relevant to each of those sectors.
Members of the INATBA
Joseph Lubin, founder of ConsenSys and co-founder of Ethereum, also declared support for the association. He said:
“We want to let everyone know that ConsenSys is getting behind the newly formed INATBA-International Association for Trusted Blockchain Applications. This initiative is global but is being supported by our good friends at the European Commission. It is designed to be a platform for blockchain ecosystem organizations big and small to work together to bring blockchain and distributed ledger technologies mainstream.”
Ripple is only one of 105 different members of the association who are looking to redesign global regulation as it relates to blockchain and distributed ledger technology. Other members include, BBVA, Accenture, Barclays, ConsenSys, the Cardano Foundation, IOTA Foundation, IBM Belgium, Fujitsu and many more.
The association will be officially launched on the 3rd of April in Brussels, Belgium.