Barclays, BBVA, Deutsche Boerse and SWIFT are among those from the financial services sector to join the newly-founded International Association for Trusted Blockchain Applications (IATBA).

More than 100 organisations from a variety of industries have signed up to the organisation, which grew out of a series of meetings held by the European Commission (EC).

The signatories are developers, suppliers and users of blockchain technologies, all of which have committed to develop a "predictable, transparent and trust-based global framework".

Based in Brussels, the IATBA will work towards developing interoperability guidelines, promoting an open and inclusive global model of governance for blockchain, and maintaining a permanent dialogue with governments and regulators.

Carlos Kuchkovsky, chief technology officer at BBVA, said the bank joined “with the conviction that it is essential to forment collaboration among corporations, SMEs, startups, public institutions and regulators in order to create global standards that ensure interoperability among platforms and a clearer legal framework that encourages the adoption of distributed ledger technology and blockchain”.

At the end of last year, final meetings were held to confirm the EU’s strategy on the application and regulation of blockchain technologies.

This followed the EC roll-out of the European Blockchain Partnership (EBP), which has already been signed by 27 EU countries with the aim of developing a secure European blockchain services infrastructure.

Share Story: