Sovrin Foundation joins EU blockchain association as founding member

April 15, 2019

The Sovrin Foundation is proud to be a part of a community where digital innovation inspires collaboration among distinct sectors of society to advance technologies that will ultimately improve the way we live. One such example occurred on April 3, 2019 when the European Union Commission launched the International Association of Trusted Blockchain Applications (INATBA). More than 100 organizations around the world are founding members of this global, multi-stakeholder association, and we are pleased to announce that the Sovrin Foundation is one of them.

INATBA is an international forum designed to bring together developers, enterprises, nonprofits, start-ups, governments, policymakers, regulators, and all other sectors of society to advance the development of blockchain and distributed ledger technologies (DLT). According to its website, INATBA will focus on four main objectives:

• “Maintain a permanent and constructive dialogue with public authorities and regulators that will contribute to the convergence of regulatory approaches to blockchain and other distributed ledger technology globally”
• “Promote an open, transparent and inclusive global model of governance for blockchain and other distributed ledger technology infrastructures that reflects the shared interests of stakeholders from industry, start-ups and SMEs, civil society organizations, governments, and international organizations”
• “Support the development and adoption of interoperability guidelines, specifications, and global standards, to enhance trusted, traceable, user-centric digital services”
• “Develop sector-specific guidelines and specifications for the development and acceleration of trusted sectorial blockchain and DLT applications in specific sectors”

At the Sovrin Foundation, we believe that blockchain technology and its capabilities have the potential to transform the future of digital identity. The Sovrin Network is based off of the idea that digital identity can and should be decentralized, user-centric, and self-sovereign.

However, in order to create a decentralized digital identity future, we can no longer work in a siloed nature. We must come together to create a global model for blockchain infrastructures that will safeguard the security, privacy, and control of individuals’ personal data.

That is why the Sovrin Foundation chose to become a founding member of INATBA. Other founding members include Accenture, ConsenSys, IBM, R3, Ripple, and SAP. Knowledge and experience across all sectors and industries must be taken into account in order to bring about standards, guidelines, and specifications that will bring this nascent technology into the next stage of development.

INATBA will not only be a driving force for blockchain adoption in Europe, but will also help establish the development of blockchain standards and best practices for the entire world. The Sovrin Foundation is proud to be one of the many voices supporting this collaborative initiative.

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