European Union Forms Blockchain Group to Support the Industry and Increase Adoptability

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

EU

European Union Forms Blockchain Group to Support the Industry and Increase Adoptability

April 4, 2019
european union
INATBA

In a push to boost up blockchain adoption in the region, the European Union on Wednesday has launched the International Association of Trusted Blockchain Adoption (INATBA).

This international association will aim to bring together industries, startups, and SMEs; policymakers, international organization, regulatory bodies, civil society, and standard-setting bodies. Its main objective will be to support blockchain getting mainstreamed and scaled-up across multiple sectors.

The launching ceremony was held at European Commission in Brussels and was attended by over 100 members from different sectors who all signed the charter. The association has tapped members from both spectra of industry, traditional tech giants and the blockchain startups. 

Few notable members from the established tech giants who joined the organisation are Accenture, IBM, and SWIFT. Other major European banks like Barclays and BBVA also joined the association. Blockchain startups who all joined the group are Ripple, R3, Bitfury, ConsenSys, and IOTA. 

The initial goal of the association will be to bridge the gap between public and private industries along with regulatory guidance and legal predictability by ensuring transparency. 

Mariya Gabriel, European Commissioner for Digital Economy and Society, spoke at the launching ceremony:

“In today’s economy, there is less and less time to build trust in the way it happened in the past. To fight cancer, to balance renewable energy, to trace the authenticity of goods, actors must be able to trust one another without meeting face-to-face. And how can we achieve this? Of course, with the help of blockchain.”

Discussions were going on for a long time on the formation of a blockchain association in Europe. In January, the European Banking Authority (EBS) has also proposed to introduce friendly laws for the emerging blockchain sector, to increase adoptability. 

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