Focused on a future built on blockchain, the International Association of Trusted Blockchain Applications (INATBA) aims to facilitate and promote DLT-related technologies by organizing forums where regulators and policymakers can interact with corporations and startups to develop the necessary regulatory incentives for this groundbreaking technology to evolve.
At the launch ceremony held at the European Commission in Brussels, more than 100 members have signed the charter, including IBM, Accenture, Deutsche Telekom, IOTA Foundation, Ripple Labs, SWIFT, Barclays, ConsenSys, Sovrin Foundation. INATBA’s mission is clear: to bring together industry startups, small and medium enterprises, regulators and standard setting bodies in order to facilitate the adoption of blockchain and distributed ledger technology (DLT) into the mainstream. It’s also worth mentioning that 48 additional organizations had applied for membership on the day of the launch.
Modex, a blockchain company, fully supports this initiative. Since day one, Modex has been actively promoting blockchain as part of our program to educate people on blockchain and to highlight the advantages of blockchain in various industries: healthcare, the voting system, database management, financial industry, and many others.
In signing the charter and joining the association, the founding members agreed to a broad range of goals such as creating interoperability guidelines and standards, promoting transparency, and emphasizing inclusiveness. As a reminder, in April 2018 27 EU member states signed a blockchain partnership declaration, agreeing to cooperate on related topics, and the Commission has created an EU Blockchain Observatory and Forum to boost innovation in the field.
Blockchain is the future
During the Brussels ceremony, European Commissioner for Digital Economy and Society Mariya Gabriel noted that the EU is committed to fostering the development of blockchain. “In today’s economy, there is less and less time to build trust in the way it happened in the past. To fight cancer, to balance renewable energy, to trace the authenticity of goods, actors must be able to trust one another without meeting face-to-face. And how can we achieve this? Of course, with the help of blockchain!” She added: “Europe must make more of technological innovation and blockchain technology is an innovation that Europe cannot afford to miss.” On their part, INATBA representatives said: “To unlock the full transformational potential and harness the benefits of blockchain and DLT for businesses, the public sector and society at large, INATBA aims to develop a framework that promotes public and private sector collaboration, regulatory convergence, legal predictability and ensures the system’s integrity and transparency.”
All public services built on blockchain
Highlighting the potential that blockchain has for public services, Mariya Gabriel commented: “In future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe to rethink their information systems. As digital services become increasingly widespread, we need to be able to trust their security and reliability, and blockchain offers myriad possibilities in this regard. We have an opportunity to develop an inclusive partnership that will help it flourish. The EU is supporting blockchain technology with investment through its Horizon 2020 research and innovation initiative.”
The ministers who attended the ceremony in Brussels added that blockchain has the ability to enhance life for Europeans, particularly with respect to their privacy. “Due to its nature, we are of the view that Distributed Ledger Technologies can result in enhanced transparency, accountability and privacy for the end-users. In this sense, we believe that the promotion of privacy through blockchain enhanced solutions could be a way forward, empowering citizens to be in control of their own personal data.”
Modex, a blockchain company, is also promoting the adoption of blockchain technology and strongly believes into a future built around blockchain. Modex offers fully integrated services designed to solve the last mile adoption problem of the blockchain and aims to make blockchain user-friendly for every single device or person. At Modex, we are able to innovate thanks to our incredible team of experts and we offer services for the entire blockchain technology ecosystem: Marketplace for Smart Contracts, community tools for developers and blockchain as database services for enterprises. In over two years, using cutting-edge technologies and with a clear strategy, Modex has evolved from the world’s first app store for blockchain into a complex ecosystem designed for developers’ needs and for enterprises looking for blockchain solutions. Our mission is to spread and facilitate the adoption of blockchain into the society and to solve real world problems using this revolutionary technology.