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The positive aspects of the EEA for Ethereum are now showing

Cryptocurrency

The Enterprise Ethereum Alliance (EEA) has set standards for the development of authorized versions of Ethereum – now that a few years have passed, its impact can be seen

The Enterprise Ethereum Alliance (EEA) was created to allow organizations to adopt and use Ethereum in their daily operations, creating a world of collaboration based on trust. Now that Ethereum 2.0 is being developed, it is easy to see the impact of the EEA.

With more than 200 members, the EEA is helping Ethereum to evolve into enterprise-grade technology, providing research and development in different areas with the assistance of the community.

The standards organization works on developing open blockchain specifications to improve interoperability for consumers and developers working on applications or systems created using Ethereum.

Collaboration is essential for innovation

The EEA was launched in February 2017 under the direction of Julio Faura as President.

At that time, Grupo Santander’s blockchain development leader stated that:

“Some of us have just come together to try to make the technology a little more suitable for corporate uses. We were all making our rudimentary attempts to use technology. But it was not designed for corporate use – but for public and trustless use – and it was far from ready. “

By collaborating with other companies interested in using blockchain technology, the alliance aims to tackle the siled database from decades ago, which has prevented digital solutions from communicating and working together effectively, scaling as needed and coordinating efforts between development teams.

Decentralization allows consumers and businesses to choose

By encouraging the use of standards and collaboration, the alliance aims to prevent the monopoly that other technologies have experienced when important tools have been controlled by a single entity.

The combination of decentralization inherent in Ethereum and the collaboration resulting from EEA efforts prevent any company from controlling it and creating a strategic risk that can affect other parties.

The criticisms of decentralization that blockchain technology experienced at the beginning are reminiscent of that view when open source projects first appeared, with companies refusing to adopt them.

Open source projects are everywhere, with the support of companies and users these days, so blockchain may be following the same trend as a result of efforts like those of the EEA.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.