In a recent announcement, Ripple confirmed that it is among the founding members of the European Commission’s Association for Blockchain. Along with several other crypto and blockchain entities,
Ripple (XRP) is a founding member of a blockchain association called International Association for Trusted Blockchain Applications (INATBA).
Ripple stated, “it is honored to be a founding member of INATBA and look forward to being a leading participant.” The other notable players from cryptocurrency space that are a part of association has several other include IOTA, Cardano, Lisk, ConsenSys, Ledger and R3. It also includes some rival payments system SWIFT, consulting firm Accenture and British bank Barclays.
According to INATBA, “The objective of the association is to encourage discussions with regulators, creating a global model of governance for the technology, and developing interoperability standards and sector-specific guidelines.”
The official statement of the association is as follows:
“To unlock the full transformational potential and harness the benefits of blockchain and DLT for businesses, the public sector and society at large, INATBA aims to develop a framework that promotes public and private sector collaboration, regulatory convergence, legal predictability and ensures the system’s integrity and transparency.”
Whie making this announcement, CEO of Ripple Brad Garlinghouse stated, “It’s an honor and a privilege to be one of the founding members of the International Association for Trusted Blockchain Applications. This is a pivotal time for the distributed ledger technology industry as we come together and engage with regulators and governments globally. The work we are planning with the European Commission can be leading in this effort.”
The INATBA project was announced in March 2019 by the European Commission and was launched today in Brussels. It is a platform developed for – big and small – blockchain ecosystem organizations to bring blockchain and distributed ledger technologies mainstream. Presently, the group has more than 70 members. Even the ConsenSys is also supporting the newly formed INATBA-International Association for Trusted Blockchain Applications with mainstream adoption.
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