The latest association between crypto-companies and mainstream institutions is Ripple’s involvement with the International Association for Trusted Blockchain Applications [INATBA]. The Brad Garlinghouse-led company was one of the 105 companies, among other start-ups, government, and international organizations that joined as its founding members. The European Union-guided body stated in a release,
“To support blockchain and DLT in overcoming barriers to scale, the proposal has been made to create a global forum that brings together industry, startups and SMEs, policy makers, regulators, civil society and standard setting bodies.”
The organization continued,
“To this end, interested stakeholders, including developers and users of Blockchain and distributed ledger technology (DLT) are invited to work together on the establishment of the International Association for Trusted Blockchain Applications (INATBA), which aims to achieve multiple goals.”
The goals stated by the company include maintaining a permanent and constructive dialogue with public authorities, contributing to the convergence of regulatory approaches to blockchain technology.
The body also wanted to,
“Promote an open, transparent and inclusive global model of governance for blockchain and other distributed ledger technology infrastructures and applications. A model that reflects the shared interests of stakeholders from industry, start-ups and SMEs, civil society organizations, governments and international organisations.”
The INATBA aims to support the development and adoption of interoperability guidelines and specifications of global standards to enhance trusted, traceable and user-centric digital services. To ensure the mainstream usage of blockchain technology and cryptocurrencies, the body expanded on its plans to develop sector-specific guidelines and specifications for the developments and acceleration of trusted sectorial blockchain and DLT applications.