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Global Blockchain Association Launched

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Global Blockchain Association Launched

Global Blockchain Association Launched
April 12
16:37 2019

A new international association – International Association for Trusted Blockchain Applications (INATBA) – has been launched with the aim of encouraging the global governance and development of blockchain technology. 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:

  1. 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.

  2. 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.

  3. 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).

Speaking at the inaugural meeting of the International Association for Trusted Blockchain Applications (INATBA), Mariya Gabriel, Commissioner for Digital Economy and Society, said: “Europe must make more of technological innovation and blockchain technology is an innovation that Europe cannot afford to miss. As digital services become increasingly widespread, we need to be able to trust their security and reliability, and blockchain offers myriad possibilities in this regard. We have an opportunity to develop an inclusive partnership that will help it flourish. This is why I welcome the ambitious goals of INATBA, to bring together a wide range of stakeholders on blockchain and distributed ledger technologies in general to work together with global policy institutions to develop a governance structure that works for everyone.”

In 2018, the European Commission launched the European Blockchain Partnership, in order to develop a European Blockchain Services Infrastructure that will support the delivery of cross-border digital public services, with the highest standards of security and privacy, as well as the EU Blockchain Observatory and Forum, with the support of the European Parliament. Blockchain technology is also a key part of the FinTech Action plan as well as of the priorities for the Digital Europe Programme.

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