- INATBA encourages both the public and the private sector to participate in dialogue with regulators.
- The group has brought together financial institutions, blockchain startups, and other industry leaders.
Ripple is joining hands with SWIFT, IBM and 100 other companies in a newly launched blockchain association that seeks to promote the adoption of the blockchain technology across the European Union. The association referred to as the International Association of Trusted Blockchain Applications (INATBA) started its operation on Wednesday in Brussels Belgium.
The mandate of INATBA is to develop a framework that encourages both the public and the private sector to participate in dialogue with regulators and other peacemakers as well as “legal predictability,” in order to ensure “integrity and transparency” across the blockchain infrastructures. The group is also going to come up with guidelines and specifications for the blockchain and distributed ledger-based applications.
Among the members of the group is Barclays, BBVA, Accenture and L’Oreal a beauty products guru in France. Various blockchain startups have also signed up as members, for example, ConsenSys AG, Bitfury and the enterprise blockchain firm R3.
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