Big Corporates Unite for Launch of Enterprise Ethereum Alliance

A group of global enterprises representing the oil and gas industry, the financial sector and software development firms will today formally launch the Enterprise Ethereum Alliance, dedicated to developing ethereum into an enterprise grade blockchain.

Comprised of British oil giant BP, bulge-bracket bank JP Morgan, software developer Microsoft, India IT consultancy Wipro, and about 30 other diverse firms, the group aims to reimagine the consortium model as a non-profit, donation-based system.

If successful, the model could have ripple effects for other fees-based structures.

Expected to be formally revealed today at an event in New York City, the Alliance is designed in one sense to more closely align with the open-source philosophy of its founder Jeremy Millar, while also giving large corporations and small startups alike a stronger sense of accountability for their investment in the technology.

At stake is more than the dollars of potential customers increasingly spread across a rapidly growing network of consoritia working to leverage the network effects of a shared, distributed ledger, but the increasingly tough search for talent to build actual applications.

“The goal of the Enterprise Ethereum Alliance is to align the various interest groups, the users, the startups, the large technology platforms,

Read more ... source: CoinDesk

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