Ripple, a leading settlement system for cross-border payments, has become a founding member of the International Association for Trusted Blockchain Applications (INATBA).
INATBA provides a forum for organizations with interests in digital ledger technology to interact with policy makers and regulators. The initiative is successfully combining big players and influential voices, with adversaries and competitors alike, under one roof to tackle the many challenges that DLT, blockchain and cryptocurrency adoption present for governments.
CEO of Ripple Brad Garlinghouse says,
“It’s an honor and really a privilege for us to be one of the founding members of the International Association for Trusted Blockchain Applications. This really is a pivotal time for the distributed ledger technology industry. It’s critical that as an industry we come together and engage with regulators and governments globally. 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.”
— Ripple (@Ripple) April 1, 2019
The association has four major goals.
- Positive communication with public authorities and regulators on regulatory approaches to blockchain and distributed ledger technology
- Global model of governance for blockchain and other distributed ledger technology infrastructure
- Development and adoption of interoperability guidelines and standards
- Development of sector-specific guidelines for blockchain and distributed ledger technology
Ethereum co-founder and founder of ConsenSys, Joseph Lubin, has expressed his support of INATBA.
“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 joins other major blockchain and cryptocurrency projects that are trying to reshape the regulatory landscape in order to leverage blockchain technology.
- IOTA Foundation
- Cardano Foundation
- IBM Belgium
- Italia 4 Blockchain
- Stablecoin Integration Services Danmark IVS
Other members include traditional financial organizations such as Barclays, BBVA, Accenture and Ripple’s rival Swift, which are among the major incumbents pushing for innovation under a regulatory framework.
The official launch of INATBA will take place in Brussels on April 3rd.