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Telefonica is one of the founding members of the International Association for Trusted Blockchain Applications

 

The mission of INATBA is to enhance trust and innovation in blockchain [and other distributed ledger technologies] through the promotion of guidelines and specifications for interoperable blockchain, compliant with the relevant principles of EU and international law. 

 

INATBA is a multistakeholder and private association of more than 105 companies from all sectors with the aim of bringing together large industries, SMEs, start-ups, civil society organisations and public authorities to enhance trust and innovation in blockchain and other Distributed Ledger Technologies, considering the shared interests of each of the signatories.

Sponsored by the European Commission, INATBA was officially launched on the 3rd of April at the European Commission Headquarters in Brussels. Mr. Roberto Viola, the Director-General, congratulated all the founding members for partnering together "to help developing the framework for Distributed Ledger Technologies in Europe".

Ms. Mariya Gabriel, Digital Economy and Society Commissioner, has followed and witnessed the Declaration of Support by all the INATBA founding members. The signatures were hashed and stored in several blockchain to formally launch the organisation. 

 

The interest of Telefónica in joining INATBA is twofold:

  • To further discover the opportunities that this technology really brings to companies and societies and
  • To identify how to make blockchain solutions compliant with current European and international laws and regulations.

Christoph Steck, Public Policy and Internet director at Telefónica explains that:

 

“This transformation has to observe the law, the regulation and the commitment with the society that we, as a company, have acquired, in order to respect people’s rights in this digital and promising decentralized world”

 

 

Telefónica is convinced that blockchain is one of the technologies that will deeply impact on our business and transform our world in ways that we are still discovering, That is why we are an active player in the blockchain landscape and we are participating in the most relevant initiatives at local, regional and global level, such as Alastria, the Spanish blockchain consortium, and in other technical bodies like ETSI and ITU, working on the development and application of blockchain in industries.

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