Since the company’s founding over 100 years ago, we at IBM have believed that collaboration is key to the successful nurturing and development of any new technology. Blockchain is no different.
Not only do we need collaboration on developing blockchain technology like the Linux Foundation’sHyperledger Fabric, but we also need open, accessible collaboration on areas such as developing transparent and inclusive governance protocols for blockchain, establishing global guidelines for interoperability, and more.
I am pleased to announce that, together with other blockchain providers, large-scale users, start-ups, and business and industry sector associations, IBM is today joining a new organization, the International Association of Trusted Blockchain Applications (INATBA), dedicated to promoting the use of blockchain technology by developing a predictable, transparent and trust-based global framework.
The initiative for INATBA came from several participants in the EU Blockchain Industry Round Table, including IBM. From the beginning, we realized that for blockchain to reach mainstream adoption, it would need a global policy framework to guide its innovation and adoption. We saw that the blockchain ecosystem needed a unified voice to feed into that global framework. Hence, with the valuable support of the European Commission, INATBA was born. The organization was launched this week at an event in Brussels hosted by the European Commission with guest speaker Mariya Gabriel, European Commissioner for Digital Economy and Society.
We at IBM believes that blockchain will do for trusted transactions what the internet did for the free flow of information. For our enterprise clients, confidentiality and security are two foundational elements of any blockchain, and we continuing to innovate in these core areas.
Our large scale, production blockchain networks such as IBM Food Trust and we.trade are already benefitting from our security and confidentiality innovations, and are a testament to the enterprise-readiness of blockchain networks. We welcome the launch of INATBA and the work it will undertake to contribute to government policy that will build trust in blockchain. We look forward to working together with other INATBA partners to guide the organization’s work on trust and transparency.
As we embark on this next phase of the blockchain journey, I would encourage other organizations from the blockchain ecosystem to join us.
A final word of thanks to the European Commission for its support for INATBA. We are looking forward to working together to build an international framework in which blockchain will flourish.
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