The EEA [Ethereum Enterprise Alliance] as per the revelation of the joining by Mastercard, Indian Government and many others it became the Largest open-source Blockchain alliance WorldWide.
Since the use of blockchain technology and its potential has been increasing attention wise, many functioning entities are joining to create larger consortium for more developed exploration of the technology and its applications. This was hoisted with the understanding how reliable Ethereums protocol is to create supportive blockchain solutions.
The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.
The Chairman of Enterprise Ethereum Alliance board Julio Faura said that:
“EEA’s rapid growth in membership mirrors the accelerating acceptance and deployment of Ethereum blockchain solutions in the global marketplace. The technological breadth, depth and variety of organizations coming together under the auspices of EEA to create and drive enterprise Ethereum standards bodes well for the future development of the next-generation Ethereum ecosystem.”
Alongside the increase of members its easily understood the rise of diversity the alliance includes in terms of industry participants. Which represents the interest in the potential it with-holds to solve multiple problems the technology already has.
But the member that perhaps stands out most in this latest batch of companies is the government of the rapidly growing Andhra Pradesh state in India, the first state government outside the US to join the alliance.
The special chief secretary and IT advisor to the state’s chief minister, J.A. Chowdary, described in a statement:
“We are keen on integrating blockchain technology into governance and look forward to our collaboration with Enterprise Ethereum Alliance and provide market access to the community.”
A lot of people are curious how MasterCard might consider utilizing Ethereum. Could there be an Ethereum based Mastercard? TenX is famous for solving the biggest problem in the cryptocurrency space, which is making cryptocurrency spendable in the real world. Even if MasterCard just officially endorsed TenX, that would be a huge win for the EEA and the community in general.
It’s obvious that more of the largest corporations and biggest names are getting behind Ethereum. It’s something that has never happened before for any cryptocurrency or blockchain company, and the EEA is now the biggest alliance of this type in the space. This is mostly due to the technological advantage that Ethereum has as one of the most widely used blockchain based technology platforms, the rise of ICOs (initial coin offerings) and the widespread adoption of the Ethereum platform in general.
Subsequently the prices of ETH (Ethereum) shot up to the $245 range the next day as the announcement was made, from a relative low a few days before at $130.