April 9, 2019, | AtoZ Markets - Last week, AtoZ Markets published an article about SWIFT, IBM, Ripple, and 100 other firms and organizations joining a newly created EU Blockchain Association named as the International Association of Trusted Block Applications (INATBA). This week, we spoke to one of its founders, Kornel Kalocsai, who shared his ideas about how will INATBA benefit the blockchain market. Kalocsai expressed his opinion about how he foresees the future role of blockchain in Europe.
What is INATBA? Foundation, shape and commitment
105 organizations founded a new EU blockchain association on the DLT ecosystem by Kornel Kalocsai, president of the Blockchain Hungary Association.
The International Association of Trusted Blockchain Applications (INATBA) was officially founded on the 3rd of April by 105 different entities: multinational companies, SMEs and non-profit organizations, such as eg. ConseSys, IBM, Deutsche Telecom, Telefonica, IOTA Foundation, R3, Ripple, Repsol and many more. The most important players from the ecosystem found it important to join INATBA, which was supported by the European Commission.
During the interview, Kornel Kalocsai explained what is the commitment and future plans of the new EU blockchain association. Among organizations' main activities, Kalocsai mentioned:
- developing interoperability and sector-specific guidelines and standards
- transparent and inclusive governance
- ongoing constructive dialogue with authorities and regulators, to ensure that INATBA will be a significant driver of blockchain innovation and adoption internationally
During the INATBA founding ceremony, Mariya Gabriel, the European Commissioner for the Digital Economy and Society, officially hashed the constitution and the members' list of INATBA on the blockchain.
“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 Gabriel, adding: “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.”
INATBA's Three main goals come on top
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 organizations, governments, and international organizations.
- 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).
World bank and UN support the EU Blockchain association
This initiative also has strong support from leading international organizations. 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.
INATBA paves the way for DLT and blockchain
In an answer to the question of “how will INATBA benefit the blockchain market?” Kornel Kalocsai noted:
“With the creation of INATBA, it can facilitate wider acceptance of DLT and blockchain technology and it could become a global association for the ecosystem, like eg. ICANN (Internet Corporation for Assigned Names and Numbers) is for the internet. INATBA is open for any organizations to join the work of it, not only from Europe but from all over the world, even from Africa, South Korea, South America, etc. and it is already decided to organize the World Blockchain Congress in Malaga in November this year.”
For more information please visit www.inatba.org.