What is The Enterprise Ethereum Alliance (EEA)? A Sign That Ethereum is Here to Stay
As you learn more about Ethereum, you might hear about the Ethereum Enterprise Alliance, this post explains what the EEA is, and why it is a big deal for the cryptocurrency.
Launched 12 months ago, The Enterprise Ethereum Alliance, the world’s largest open-source Blockchain initiative, was established to connect Fortune 500 companies, Blockchain startups, academics, and industry experts together with a common goal.
Experts have come together to learn and build upon the Ethereum protocol to define enterprise grade software, utilizing Blockchain technology. Given the maturity and multi-purpose design of Ethereum, the alliance is on a mission to bring privacy, scalability,security, and performance improvements to build the Ethereum Blockchain as the primary solution for Enterprise adoption on a mass scale.
The alliance includes members that span numerous industries and sectors, including finance, IT, healthcare, and energy to name a few, with notable early members J.P Morgan, Santander, and ConsenSyS leading the pack. More recent members, include Microsoft, Samsung SDS, University of New South Wales, Mastercard, and Intel, Scotiabank, BNY Mellon Hewlett Packard Enterprise, along with Blockchain based firms like, Status, Dash, and Coinvest to name a few. With over 250+ members and counting, the EEA is a sign that Blockchain technology is here to stay and not just a fad, like some may believe.
Ron Resnick, the recently appointed Executive Director, is ready to take on the challenge and lead the 200+ member alliance. Resnick is a former Intel Executive and graduate of Cornell University. He is a smart mind with over 25 years of experience growing high tech businesses and their ecosystems. As former President and Chairman of WiMax Forum, he was instrumental in rolling out 4G wireless broadband technology to the masses and it gives him credibility to take Blockchain technology to the Enterprise-ready status that is much needed for mass adoption to occur. With Resnick leading the alliance, our future is in good hands.
“My focus is to drive the further development of Ethereum-based technology best practices, open standards and open-source reference architectures to evolve Ethereum into an enterprise-grade technology. EEA has the critical mass of companies – both established and startup - from every region of the world and over 17 vendor-lead industry-specific application layer working groups and committed to get the work done and increase the adoption of Ethereum technology in the enterprise” - Ron Resnick
The Alliance currently consists of over 10 major Working Groups (WG) that intend to innovate, test,educate, and disrupt their respective industries by contributing Ethereum based solutions to tackle current industry challenges. Members of the EEA, based on the their needs and opportunities, create different working groups to collaborate on common goals. These include: Supply Chain WG, Standards WG, Advertising Industry WG, Banking WG, Communications Protocol WG, Healthcare WG, Insurance WG, Integration and Tools WG, Qourum WG, and Legal Industry WG. Three of the newest WG additions include:
Digital Identity Working Group – focuses on researching the role of a digital identity on the Ethereum Blockchain
Energy Working Group – looking to define industry standards and pioneer the infrastructure for Ethereum applications in mining, oil and gas, solar, energy trading, and utilities, among other energy initiatives and use cases.
Multiplatform/Working Group – primarily focused on researching and advancing the technology required to make the Ethereum platform usable across multiple physical hardware, operating systems, and ultimately interoperability amongst many different blockchains.
The Enterprise Ethereum Alliance will only get stronger as more enterprises follow suit, and ultimately improve on the current deficiencies of the Ethereum platform. For those that experience Fear, Uncertainty, and Doubt (FUD) in Blockchain technology, The Alliance should reaffirm your stance that Ethereum is the true creme de la creme as a platform for Enterprise use.
You can find learn more about the EEA at https://entethalliance.org/