105 Organisations Announce New International Association of Trusted Blockchain Applications (INATBA)

European Commissioner Mariya Gabriel and Director-General Roberto Viola Attend the Launch Event

105 organisations representing the full distributed ledger technology (DLT) ecosystem, today announced their commitment to a new platform, the International Association of Trusted Blockchain Applications.  Launched with a ceremonial digital signing at the European Commission headquarters, INATBA will promote the use of blockchain technology by developing a predictable, transparent and trust-based global framework.

Hosted at the European Commision Headquarters, the signing ceremony included a keynote speech from the European Commissioner for Digital Economy and Society, Mariya Gabriel and remarks from Director-General Roberto Viola. Following this, INATBA members signatures were hashed on several distributed ledgers to formally launch the organisation.

“We are thrilled to see that over 100 companies and organizations have partnered together to help develop the framework for distributed ledger technologies in Europe,” said Mariya Gabriel, European Commissioner for the Digital Economy and Society.  “It clearly signifies that blockchain technology will be a driving force for our economy in the coming years, and through INATBA we will be able to foster an environment that encourages the application of the technology across the EU member states.”

This initiative also has the strong support from leading international organisations. The European Commission, the World Bank, the OECD,  the UN World Food Program, UNFCCC, UNICEF, the European Investment Bank, the European Bank for Reconstruction and Development and the OECD have joined INATBA’s Governmental Advisory Board. All EU Member States and the European Blockchain Partnership are expected to join as governmental advisors.

Lory Kehoe MD of ConsenSys Ireland and Founding Member of Blockchain Ireland speaking from Brussels: “I am delighted to be here today in Brussels for the launch of the European Commission backed global blockchain initiative INATBA. Consensys Ireland is proud to have been involved in the establishment of this body from the beginning. The European Commission, more specifically through INATBA, are aligning to take advantage of the transformational opportunities that blockchain can bring to public, private and not-for-profit sectors around the world.”

“Another key focus of the group is to drive standards of the technology to accelerate inevitable mass-adoption. Ireland is favourably positioned in this respect, particularly in light of the convening in Dublin of the International Standards Organisation (ISO TC307) as part of Blockchain Ireland week (last week of May).”

The initiative for INATBA came from several participants in the EU Blockchain Industry Round Table, a European Commission hosted group, which has been working to identify the right conditions for blockchain technologies to flourish. The announcement by major Blockchain providers, large-scale users, start-ups and business and sectoral associations is a clear endorsement of the role INATBA will play in unlocking the potential of DLT across business and society.

The organizations listed below have declared their commitment to develop interoperability  and sector-specific guidelines and standards, transparent and inclusive governance and ongoing constructive dialogue with authorities and regulators, to ensure that INATBA will be a significant driver of blockchain innovation and adoption internationally.

INATBA has mandated itself with a number of chief objectives:

Promote an open, transparent and inclusive global model of governance for blockchain and other distributed ledger technology infrastructures and applications. A model that reflects the shared interests of stakeholders from industry, start-ups and SMEs, civil society organisations, governments and international organisations.
Support the development and adoption of interoperability guidelines, specifications and global standards, to enhance trusted, traceable, user-centric digital services. Upholding an open, transparent and inclusive method of multi-stakeholder cooperation.

Develop sector-specific guidelines and specifications for the development and acceleration of trusted sectorial blockchain and DLT applications in specific sectors (i.e. financial services, health, supply chain, energy and financial inclusion).
The organisations now call on other like-minded Blockchain stakeholders to join INATBA to drive the development and deployment Blockchain across the globe.

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