04 Apr 106 Organisations launch INATBA in cooperation with the European Commission
INATBA, the International Association of Trusted Blockchain Applications, offers developers and users of DLT a global forum to interact with regulators and policy makers and bring blockchain technology to the next stage.
106 organisations representing the full distributed ledger technology (DLT) ecosystem, today on April 3rd, announced their commitment to a new platform, the International Association of Trusted Blockchain Applications.
Launched with a ceremonial digital signing at the European Commission headquarters, INATBA will promote the use of blockchain technology by developing a predictable, transparent and trust-based global framework. Hosted at the European Commision Headquarters , the signing ceremony included a keynote speech from the European Commissioner for Digital Economy and Society, Mariya Gabriel and remarks from Director-General Roberto Viola.
INATBA brings together industry, startups and SMEs, policy makers, international organisations, regulators, civil society and standard setting bodies to support blockchain and Distributed Ledger Technology (DLT) to be mainstreamed and scaled-up across multiple sectors. Following this, INATBA members signatures were hashed on several distributed ledgers to formally launch the organisation.
“We are thrilled to see that over 100 companies and organizations have partnered together to help develop the framework for distributed ledger technologies in Europe. It clearly signifies that blockchain technology will be a driving force for our economy in the coming years, and through INATBA we will be able to foster an environment that encourages the application of the technology across the EU member states.” Mariya Gabriel, European Commissioner for the Digital Economy and Society INATBA has strong support from leading international organisations. 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 have joined INATBA’s Governmental Advisory Board. EU Member States and the European Blockchain Partnership are expected to join as governmental advisors.
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 announcement by major Blockchain providers, large-scale users, start-ups and business and sectoral associations is a clear endorsement of the role INATBA will play in unlocking the
potential of DLT across business and society.
INATBA has mandated itself with a number of chief objectives:
- 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 organisations, governments and international organisations.
- 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, health, supply chain, energy and financial inclusion). The organisations now call on other like-minded Blockchain stakeholders to join INATBA to drive the development and deployment Blockchain across the globe.