Ripple and SWIFT join the new European blockchain association

04 Apr, 2019 | Updated: 04 Apr, 2019
by Fifi Arisandi
Ripple and SWIFT join the new European blockchain association

A new blockchain association initiated by a European commission is just launched, along with the list of members.

Aims to promote mainstream adoption of blockchain technology across multiple sectors and develop blockchain best practices and standard in Europe, the International Association of Trusted Blockchain Applications (INATBA) brings together 105 companies and organizations that share an interest in making the above goal comes true.

Among the members are blockchain companies ConsenSys AG, Bitfury, IOTA, R3 and Ripple. From non-blockchain industry, major corporations, such as Barclays and BBVA, Accenture, L’oreal and payment service provider, SWIFT, who is also Ripple’s biggest competition.

The association’s future plans include building a framework to encourage public and private sector collaboration, bridging the dialogue with regulators and policymakers, as well as ensuring the integrity and transparency in blockchain infrastructures, as reported by Coindesk.

It’s interesting to see how cross-border payment providers, like Ripple, SWIFT and R3 will collaborate in the group. Not to mention, the other members from the banking sector, which according to the IMF Director, Christine Lagarde will one day be cannibalized with the blockchain payment providers’ technology.

Read more: IMF praises Ripple and Circle, says banks will be ‘cannibalized’

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