Ripple, ConsenSys, Quant Network Among 105 Founders to Sign-Off on International Blockchain Association at European Commission

EU flags waving in front of European Parliament building in Brus

Today marked another significant milestone for global blockchain technology adoption after a notary deed to create the International Association of Trusted Blockchain Applications (INATBA) was signed off on by 105 founding members at the European Commission’s Brussels headquarters.

Participating in the legal foundation of INATBA were representatives of a host of well-known projects native to the crypto and blockchain ecosystem, such as Ripple, ConsenSys, Quant Network (QNT), the IOTA Foundation (IOTA), Gnosis (GNO), Unibright (UBT), and MADANA.

Supported by the European Commission and the European Blockchain Partnership (EBP), INATBA has been established to support blockchain and other distributed ledger technologies (DLTs) in overcoming barriers to scale. The Commission’s website specifies four goals INATBA – which is a global initiative, and not just Europe-oriented – is designed to achieve.

Essentially, these four goals are to: [1] maintain a “permanent and constructive dialogue with public authorities and regulators” to help converge regulatory approaches to blockchain; [2] promote an “open, transparent and inclusive model of governance for blockchain and other [DLT] infrastructure and applications;” [3] support the development and adoption “interoperability guidelines, specifications and global standards;” and [4] create “sector-specific guidelines and specifications for the development and acceleration of trusted sectorial blockchain and DLT applications in specific sectors.”

According to the image attached to the below tweet shared by Gnosis’ chief legal officer Silke Noa Elrifai – who represented Gnosis in Brussels for INATBA’s incorporation – it appears micro-sized businesses are the most well-represented of any organizational type in the association of 105 founding members. Alternatively, small- and medium-sized businesses account for roughly 20 percent, collectively, of INATBA’s membership composition.

Now legally founded, the next step for INATBA will be for its founding members to reach consensus regarding the course of action to pursue in the near-term – according to an image of INATBA’s second quarter roadmap tweeted by the account of the COCIR non-profit trade association. Per this roadmap, INATBA will next meet on April 5th for its inaugural general assembly, which will notably feature a media event in order “to launch INABTA.”

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