Major Banks To Join Launch Of EU Blockchain Platform

  • The European Commission (EC) is launching a new blockchain association next year and some major banks have already announced they will be joining


  • Spanish Bank BBVA announced that it will be is one of the first five banks to join the EC’s International Association for Trusted Blockchain Applications (IATBA)


  • According to the post by BBVA bank, the IATBA ”aims to bring together companies interested in exploring the potential of blockchain and distributed ledger technologies to transform digital services at a global level”


  • The IATBA association hopes to develop blockchain guidelines and protocols, promote EU blockchain standards interantionally and provide information for the implementation of Europe’s blockchain strategy


  • Carlos Kuchkovsky, Head of Research & Development New Digital Business, BBVA, commented; blockchain is not only a technology, but it engenders new business models creating a “tokenized economy” and “paving the way to a decentralised economy in the future.”

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