Enterprise Ethereum Alliance - World's Largest Open-Source Blockchain Initiative (feat. Microsoft, Mastercard, Samsung & more)
The Enterprise Ethereum Alliance is a group of global enterprises from different sectors which aims to facilitate the widespread adoption of Ethereum.
The industry group was formed in february 2017 and now includes over 180 organizations from all over the world!
Some big names include Microsoft, Intel, Mastercard and more.
The Enterprise Ethereum Alliance (EEA) is now the world's largest open-source blockchain initiative.
What is the EEA about ?
The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.
The non-profit organization aims to evolve Ethereum into an enterprise-grade technology and create standards in the form of security, privacy, scalability, interoperability and best practices.
Additionally, the initiative investigates in hybrid architectures between both permissioned and public Ethereum networks, as well as application layer working groups that are tailored for each industry.
The open source framework aims for mass adoption and provides insights into the future of the public Ethereum network.
Who are the members of the EEA ?
Founding members include Microsoft, Intel, Banco Santander, BlockApps, ConsenSys and more.
Since may, the alliance has grown to over 180 different organizations - amongst those some big names.
Newer members of the EEA include Mastercard, Samsung, Toyota, Cisco and more!
“EEA’s rapid growth in membership mirrors the accelerating acceptance and deployment of Ethereum Blockchain solutions in the global marketplace. The technological breadth, depth and variety of organizations coming together under the auspices of EEA to create and drive enterprise Ethereum standards bodes well for the future development of the next-generation Ethereum ecosystem.”Julio Faura, chairman of the board - EEA
Objectives of the EEA
According to CoinDesk, the EEA has two main objectives:
First, the group aims to create an enterprise-grade blockchain solution that makes it easier for its members to comply with various regulatory requirements based on their industry. But at the same time, it will help them better capitalize on the benefits of faster transaction times and higher volumes possible with a blockchain.
So first, they want to make it easier for companies of different sectors to implement the Ethereum Blockchain and benefit from it.
Although cryptocurrencies are slowly becoming more and more mainstream, we are still far from mass adoption and it can still be quite tricky for large companies to make use of Blockchain Technology due to the lack of regulations.
Second, the group is experimenting with new governance models designed to give the kind of control regulated enterprises need. Specifically, a board of directors will help create a sense of accountability, while various other blockchain-based governance models are being considered to further empower the 'self-organizing' network effect created by authors of smart contracts and other code developers working on independent projects.
Since there aren't a lot of regulations for Blockchain Technology yet, like mentioned above, a board of directors will work towards establishing "the kind of control regulated enterprises need."
The technology is still so new that countless ways to implement it and benefit from it have yet to be discovered and laid out.
Conclusion
The Enterprise Ethereum Alliance is the world's largest open-source blockchain initiative.
They have grown to over 180 members, which goes to show that a lot of big mainstream companies have become interested in cryptocurrencies and blockchain technology - and now, they don't want to miss out.
The aim of the EEA is to further the implementation of Blockchain Technology, to support the growth and acceptance of Ethereum, to make it easier and more profitable for big cooperations to implement Ethereum and to think of regulations that work with this new technology.
I'm excited to see the outcome of this project and its effects on the Ethereum Network.
I think it's a great initiative which definitely shows how the interest in cryptocurrencies and Blockchain technology has grown!
© Sirwinchester
Great news as cryptocurrency and blockchain technology, especially ethereum, inches towards mass adoption.
I agree with you. It´s great platform and Vitalik is an experienced programmer. Look on another news like meeting with Putin. If another countries will support Ethereum it will boost a price!
Great post. I want to know what effect all of this will have on the value and use of the decentralized ethereum block chain - surely all of these organisations are looking at deploying private ethereum-based networks so it doesn't really benefit ethereum itself?
More and more companies jumping aboard, which is a great sign. Wonder what companies are next
Some companies from India also joined in the Alliance recently.
Ethereum might just blow up to the moon.
This comment has received a sweet gift of Dank Amps in the flavor of 2.79 % upvote from @lovejuice thanks to: @arunava. Vote for Aggroed!
amazing. Millions of dollars, but wait until August 1 very important day in the world of coin
This is great and all, but my concern with ETH is that there is no total cap of coins. Which 'can' potentially lead to the same prediciment that the 'FED' is in now.
Big biz is about whats good for themselves not the comunity.
Just so you know I am not anti-ETH as I have decent positions in this myself. Just a concern of mine. I would love to hear peoples thoughts on this.
alhoppo
yea exactly what I thought too. There are tons of applications in the works which essentially replace everything from amazon to wikipedia and intend to close that "one big company owns everything", now if they start the same thing they did with Fiat (which they surely will attempt to) we have the same issues again. 1% greedy and corrupt people and the rest can see what they eat and live with <.<
We surely have to prevent this from happening again.
We need to take back our control and work as a community sharing everything that should be considered public. Right now we're scammed each day by the richest on this planet, they take everything they can without thinking of the consequences and these in turn are for everyone again.
Look at the difficulty of mining. In the future, the increase in coins will be minimal.
Yes, but if we take the difficulty of bitcoin mining as an example there are a few prominent major miners which control 'most' of the mining. Sure the release of coins will be less but it still has the potential in the future as miners will get stonger etc.
News like this really excites me. We are living in exciting times for sure!
nice
Little ups and down dont matter, in the end we will reach the moon
thank for you friend...
@fahrullah
Upvoted & RESTEEMED!