Digital Bytes — review of Blockchain and Digital Assets

EU Blockchain Alliance launched to drive adoption

Over 100 organisations from a selection of different industries have signed up to the newly-founded International Association for Trusted Blockchain Applications (IATBA),

which was spawned from a series of meetings held by the European Commission (EC).
The new members are developers, suppliers and organisations who are using Blockchain technology, with an aim to develop a “predictable, transparent and trust-based global framework”. The IATBA will be located in Brussels, and its intention is to work with governments and regulators to develop guidelines on interoperability (how different Blockchains share data with each other), whilst promoting an open and inclusive global model of governance for the use of Blockchain technology. Members so far include traditional firms like IBM, Accenture, Barclays, BVVA and Deutsche Telekom, as well as companies active in the Digital Asset space, such as IOTA, Ripple, ConsenSys, and Cardona.

The EU has been monitoring Blockchain developments for a while, and in April 2018 it established the European Blockchain Partnership that now has 29members, with Hungary being the latest to join, as it believes the use of Blockchains will be at the heart of public services.To date Euros 141 Million have been allocated by the EU to Blockchain related projects, and potentially up to Euros 340 million could be committed before the end of 2020, to explore how best to use this technology.