Enterprise Ethereum Alliance and Microsoft Standardize …

Enterprise Ethereum Alliance and Microsoft Standardize Enterprise Issue Tokens

Microsoft and the Enterprise Ethereum Alliance (EEA) have launched a new project with the participation of large companies from the blockchain and financial industry to help business representatives create cryptographic tokens tailored for their own needs, writes CoinDesk.

Token Taxonomy Initiative participants are Accenture, Banco Santander, ConsenSys, Digital Asset, EY, IBM, ING, Intel, J.P. Morgan, Microsoft, R3, Web3 Labs and more. The terms of the project do not provide for restrictions on working with any one blockchain and allow you to choose between Ethereum, Hyperledger, Corda and DAML.

As explained by EEA CEO Ron Resnick, the goal of the project is to create an open infrastructure accessible to both tech-savvy users and those who do not have specialized knowledge. The organizers will hold seminars, as well as create a repository on GitHub, where data and test results related to existing implementations of tokens in various blockchains will be entered..

The idea of ​​creating the project belongs to the head of the blockchain division of Microsoft Marley Gray. He explained that his team faced a number of issues while exploring the possibility of tokenizing and importing software licenses into smart contracts. At the same time, due to his duty, he often has to interact with companies interested in the possibility of tokenization, for example, a barrel of oil.

Enterprise Ethereum Alliance and Microsoft Standardize ...

“The idea is to organize seminars to explain to business representatives which token model suits their needs. This token is made up of reusable components, so another group can create their own token with just a little tweaking and not doing all the work from the beginning, ”he said..

Earlier the business magazine Forbes published a list of large companies using blockchain in their operations..

Enterprise Ethereum Alliance and Microsoft Standardize ...