The Enterprise Ethereum Alliance and the Chamber of Digital Commerce decided to partner to facilitate industry advocacy and education efforts around tokenization. The two blockchain advocacy organizations started a strategic partnership to increase educational efforts regarding digital assets and blockchain. To achieve this goal, organizations decided to promote their understanding, acceptance, and use.
Moreover, as part of the initiative, the parties’ staff will have access to their respective token-related efforts. This will also enable joint participation in the EEA’s Working Groups and Token Taxonomy Initiative, and the Chamber’s Token Alliance. The entities will focus on token interoperability initiatives and regulatory considerations.
The executive director of EEA Ron Resnick said that active engagement and collaboration with the blockchain community is necessary. The collaboration helps to deliver real-world value through tokenized enterprise solutions.
Meanwhile, the founder and president of the Chamber Perianne Boring admitted that the adoption of digital tokens faces a variety of challenges in terms of public policy and regulations.
Groups’ Actions Promoting Blockchain System
Both EEA and the Chamber have actively participated in digital assets and blockchain adoption facilitation in previous months. For example, EEA revealed that it had created a new system of reward tokens that has the support of Microsoft and Intel in October. The goal of a token is to incentivize and reward companies who are actively participating in a consortium.
Earlier in 2019, the Chamber encouraged the Consumer Financial Protection Bureau and the U.S. Commodity Futures Trading Commission to foster blockchain innovation. It asked them to permit the introduction of new financial products based on the blockchain system. Chamber believed the offered collaboration on efficient approaches would promote investment and industry growth.
The TTI unveiled a framework to standardize the construction of tokens, making its Token Taxonomy Framework available to the public in November. The TTF used 14 draft tokens to serve as examples that are portable across definitions from ConsenSys, Adhara, EEA, Digital Asset, ioBuilders, IBM, R3, and Microsoft.