The European Union is organising a forum related to blockchain technology and has invited some of the top banks in the EU, including BBVA and Santander.
The aim of this blockchain forum, called IATBA (International Association for Trusted Blockchain Applications) is “to develop a trusted, secure and resilient European Blockchain Services Infrastructure meeting the highest standards in terms of privacy, cybersecurity, interoperability and energy efficiency, and fully compliant with EU law”.
The announcement for this Blockchain Forum was made last Tuesday, November 20th, during a meeting entitled “Bringing industries together for Europe to lead in blockchain technologies”.
The Blockchain Forum will be coordinated by the executive body of the European Union, the European Commission and the European Blockchain Partnership, a board that includes the various EU countries that want to promote blockchain technology.
BBVA commented on the invitation to the IATBA:
“According to Kuchkovsky, blockchain and other new technologies – artificial intelligence, for example – have to be understood as simple pieces that make digital ecosystems reliable. In this regard, he hopes that these types of projects will contribute to providing more clarity to the regulatory uncertainty that currently surrounds the use of these technologies. Nevertheless, he believes it is essential to establish a system of governance that aligns the different participating industries and their objectives”, which should represent different sizes of organizations and sectors“.