The leading cross-border payment system- Ripple has joined the International Association for Trusted Blockchain Applications (INATBA) as the founding member. INATBA serves as a platform for the companies who are interested in digital ledger technology to get in touch with the policy-makers and regulators. It is a sound way to address the challenges related to digital ledger technology, blockchain technology, adoption of cryptocurrency. It is done by allowing all the companies who are interested in addressing these kinds of challenges under one roof. A rich interaction of influential people, inventors, competitors and so on, can together brainstorm and come up with sound solutions.
On this, the CEO of Ripple- Brad Garlinghouse thinks that it is a privilege to be one of the founding members of the International Association for Trusted Blockchain Applications. He thinks that it is a crucial time going on for the distributed ledger technology. He pointed out the importance of the need for unity in the crypto industry and to interact with the regulators and governments on an international level.
He further added,
The work we are seeing with the European Commission is pivotal and can be leading in this effort. We’re thrilled to be involved and look forward to being a leading participant.
Yesterday, Ripple posted on its official Twitter handle that the company is thrilled to a founding member of INATBA. Also, the company is aiming to be a “leading participant” in the coming times.
— Ripple (@Ripple) April 1, 2019
Further, looking at the aims of the association, there are four main ones. As per the official blog of INATBA, the four goals are:
- It seeks to have a “permanent and a constructive dialogue” with authorities and regulators. This will bring together a common path for regulation on an international level.
- INATBA aims to have an all-inclusive, crystal clear and open cross border model of governance. It will represent the shared vision of “stakeholders, start-ups, SMEs, civil society organizations, governments, and international organizations.”
- The third goal is about offering a trusted user-centric digital platform. This will be achieved by supporting the construction and embracing the “interoperability guidelines, specifications, and global standards.”
- The final aim is to take care of guidelines that are specific to each sector. This will make sure that the growth of digital ledger technology and “sectorial blockchain” becomes possible in each sector.
On the other hand, the co-founder of Ethereum and the d=founder of ConsenSys- Joseph Lubin said-
We want to let everyone know that ConsenSys is getting behind the newly formed INATBA-International Association for Trusted Blockchain Applications. This initiative is global but is being supported by our good friends at the European Commission. It is designed to be a platform for blockchain ecosystem organizations big and small to work together to bring blockchain and distributed ledger technologies mainstream.
Ripple has been quite active to boost its presence all over the market. Recently, it was seen joining other blockchain and crypto-based projects. These projects include- IOTA Foundation, Cardano Foundation, ConsenSys, GuardTime, IBM Belgium, Italia 4 Blockchain, Ledger. R3, Stablecoin Integration Services Danmark IVS and so on.
INATBA has major players participating in the project. Some of them are Barclays, BBVA, Accenture, and Swift. As per ec.europa.eu website, the “official launch of INATBA takes place in Brussels on April 3.” Some of the featured speakers will be Commissioner for the Digital Economy and Society, European Commission- Mariya Gabriel, Gerard de Graaf- Director, Digital Single Market, Directorate General of Communication, Networks, Content, and Technology, European Commission, Caroline Malcolm, Head Blockchain Policy Center, OECD among others.