On Wednesday, the Public Chain Technology Alliance (PCTA) was officially initiated by the Bitsclub Vision Program (BVP), an industry-bolstering entity jointly launched several months ago by the founder of Nebulas (NAS), AntShares (now NEO) and Bitsclub, Hitters Xu, along with Dr. Ye Zhou (Partner, SoftBank China Venture Capital (SBCVC)), Dr. Yang Yan (Vice President, Danhua Capital (DHVC)), Chang Li (Founder, Oneboat Capital), and Mandy Wang (Founder, Odaily).

Altogether, there were eight founding members of the PCTA revealed. These members comprised Nebulas along with the following seven crypto-related projects: Nuls (NULS), High Performance Blockchain (HPB), Bytom (BTM), PCHAIN (PAI), XMax (XMX), YouDeal (YD) and Atlas Protocol (ATP). Expect further PCTA inductees to be announced over the upcoming months.

What is the Motivation Behind the PCTA?

According to a blog post issued by Nebulas on Wednesday, the PCTA is seeking to curb “the vicious competition among various public chains with the goal of opening their isolated ecosystem to new users and developers.”

Alliance partners will cooperate together, exploring and creating the framework for public chain technology standards.” – Nebulas

Nebulas – a blockchain-based project with over 6,800 decentralized applications (dApps) deployed on top of its mainnet – also explained in Wednesday’s PCTA announcement that the aforementioned partners have committed to providing technical support to “qualified projects of BVP.”

The BVP was first announced back in early August with the lofty goal to introduce one-hundred million incremental users to the blockchain world. To find out more about the ambitious initiative, such as who is sponsoring it and a brief profile of the BVP’s founding partners, we encourage you to go and check out their website.