The European Union has officially launched the International Association of Trusted Blockchain Applications (INATBA) — with IBM, Accenture and Deutsche Telekom among the 100-plus members to have signed the association’s charter at a ceremony at the European Commission (EC) in Brussels on April 4.
INATBA was legally formed last month as an offshoot of the EU’s European Blockchain Partnership, with the explicit aim of “supporting interoperability, developing specifications, promoting standards and regulatory convergence to support the development and exploitation of innovative blockchain technologies.”
Hosted by European Commissioner Mariya Gabriel and EC Director-General Roberto Viola, the ceremony began with the hashing of the association’s charter to a variety of blockchains, including Iota‘s (one of many crypto-focused members of the association, in addition to Ripple, ConsenSys and the Sovrin Foundation).
It was then followed by a keynote speech given by Gabriel, who stressed not only the EU’s commitment to fostering the development of blockchain technology, but also the importance of blockchain in providing trust in an increasingly complex economy.
“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.”