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Enterprise Ethereum Alliance Joined by 34 More Organizations, Including Mastercard and Cisco

Jul 31, 2017 Posted /  529 Views

Enterprise Ethereum Alliance Joined by 34 More Organizations, Including Mastercard and Cisco

Enterprise Ethereum Alliance Joined by 34 More Organizations, Including Mastercard and Cisco

The Enterprise Ethereum Alliance (EEA) was recently joined by 34 new members, including Mastercard, Cisco, Scotiabank and the Government of Andhra Pradesh, bringing the total membership of the consortium to over 150 organizations. 

On July 18, 2017, the Enterprise Ethereum Alliance published a press release claiming that — with the 34 new members and the total size of 150-plus participants — the Enterprise Ethereum Alliance became “the world’s largest open-source blockchain initiative.” According to the consortium, which focuses on developments on the Ethereum blockchain, the newest members of Enterprise Ethereum Alliance represent a “wide variety of business sectors, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance, as well as a number of fast-growing Ethereum startups.”

The main concept of the nonprofit is to “build, promote, and broadly support Ethereum-based technology best practices, open standards, and open source reference architectures.”

Mastercard and Cisco systems:

There was a bit of confusion in the Ethereum Reddit community since Mastercard was not listed among the new members in Ethereum Ethereum Alliance’s press release. However, Andrew Keys, head of global business development at ConsenSys, cleared up the issue.

“Mastercard is indeed a new member of Enterprise Ethereum Alliance. They asked not to be in the press release document but approved being on the Enterprise Ethereum Alliance official website. They may be doing their own communications on this,” he wrote.

Goals of Enterprise Ethereum Alliance:

The Enterprise Ethereum Alliance was formed in late February by a group of financial institutions, blockchain startups and innovators. The consortium — with J.P. Morgan and Intel as the most prominent names among the founding members — aims to standardize blockchain tech for enterprise settings. At the time of the Enterprise Ethereum Alliance’s launch, the participants created reference architecture for their project, called “EntEth 1.0,” which has a stronger focus on privacy.

Furthermore, Enterprise Ethereum Alliance also puts scalability, confidentiality and security as their priority - a much-needed alliance considering all the security and price volatility issues Ethereum has been experiencing recently.

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Tags: Ethereum Alliance news Ethereum Alliance cisco Ethereum Alliance mastercard Ethereum Alliance join

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