Launched in April 2019 the EU blockchain initiative group INATBA brings experts from many aspects of life and Ripple was THE founding member.
The group boasts experts from distributed ledger technology, industry regulators, and policymakers to talk DLT tech and the future.
To unlock the full transformational potential and harness the benefits of blockchain and DLT for businesses, the public sector and society at large, INATBA aims to develop a framework that promotes public and private sector collaboration, regulatory convergence, legal predictability and ensures the system’s integrity and transparency.
European Union Website
Recently INATBA added some interesting new partner members including IBM and SWIFT to sit with Ripple et al and discuss the future of the EU.
Ripple looks set to replace or partner SWIFT while IBM uses Stellar to settle payments over DLT, to say 'interesting development' is an understatement.
INATBA has many initiatives, plans, and goals, primarily -
- Ensure transparency and integrity in the blockchain infrastructure
- Build specifications and guidelines for DLT and blockchain-based apps
- Promote dialogue with policymakers, legal predictability, and regulators
- Develop a framework that smoothly facilitates private and public sector collaboration
The European Union support DLT and blockchain tech as a tool for innovation in the economy, the public sector, and society as a whole.
The EU governs some of the biggest global economies and is one of the most forward-thinking groups for digital assets and blockchain.
Replace the EURO?
As we reported last week, Christine Legarde' is a huge advocate of RippleTech and will become the head of the ECB from Nov 1st.
This is one day after Britain crashes out of the EU without a deal, Nov 5th just after, are we facing a major monetary and social revolution?
It is my belief that the IMF & Chirstine Legarde' are the ones setting Ripple up with central banks and all these meetings. Interesting that Ripple was able to hold a meeting in New York for a bunch of central banks. How did set this up? Who do you call to gather a bunch of central banks when you are a private payments company like Ripple?
Experts say XRP will be recognized as a currency all that needs to happen is one country adopting XRP as their own legal tender.
How about all twenty-eight EU member states, soon to be twenty-seven with Brexit, could XRP replace the EURO and usher in the future?
The banks recognise the fourth industrial revolution is upon us and they are worried. For that reason major banks are spending millions upgrading & training staff, they don't want to be wiped out...
Evans Nortey - SWIFT SIBOS Host