Cardano Foundation will be one of the founding members of the International Association for Trusted Blockchain Applications (INATBA). The launch of this association is already an exciting milestone for blockchain technology adoption and the cryptocurrency industry, and we are honoured and excited to bring Cardano to the forefront of discussions and frameworks being built in Europe.
The European Commission is launching this association as it sees the great improvements that blockchain may bring to industries and hopes to develop a common approach for the European Union. To date, the EU have engaged in other actions with regards to blockchain technology:
- In April 2018, 26 member states plus Norway and Liechtenstein signed a declaration creating the European Blockchain Partnership that would cooperate in establishing a European Blockchain Services Infrastructure.
- In February 2018, the European Commission launched the EU Blockchain Observatory and Forum. Its objectives are to map key initiatives, monitor developers and inspire common actions. Since its launch, it has released two thematic reports, which you can find here.
And now, the European Commission have launched INATBA with 105 founding members that come from industry, startups and SMEs, policy makers, regulators, civil society and standard setting bodies. As one of these founding members, Cardano Foundation will join this global forum that aims to achieve these four goals:
- Maintain a permanent and constructive dialogue with public authorities and regulators that will contribute to the convergence of regulatory approaches to blockchain and other distributed ledger technology globally.
- 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 incl. financial inclusion, health, supply chain and energy).