European Union launches International Association for Trusted Blockchain Applications

The European Union officially launched the International Association for Trusted Blockchain Applications (INATBA). Among the 100 members are some globally known players like Accenture, Deutsche Telekom and IBM.

INATBA founded itself last month as a branch of the European Association of Blockchain with the goal of supporting the interoperability, promote standards and regulations to roll out the innovative blockchain technology and to profit from it.

INATBA Enables Dialogue Between Industry and Legislator

According to Mariya Gabriel, the European commissioner for the digital economy, the application of blockchains could improve the efficacy of many processes in various branches. However, it still takes time to convince the various industries about the advantages of the blockchain. Another task is the standardization and regulation of the blockchain. In order to do this, it is useful that the industry communicates with the legislator.