Enterprise Ethereum Alliance (EEA) Definition
The Enterprise Ethereum Alliance (EEA) is a consortium made up of over 200 organizations, startups, research groups, and Fortune 500 companies aiming to develop and promote open, decentralized web technologies, primarily on the Ethereum blockchain. EEA seeks to nurture, develop, and implement comprehensive Ethereum-based enterprise solutions while also confronting related common industry challenges that its member organizations face.
Enterprise Ethereum Alliance Key Points
- The EEA aims to collectively develop industry standards for the utilization of Ethereum in different business environments.
- The consortium contains a diverse range of members, from startups to Fortune 500 companies, with industries ranging from oil and gas to technology services.
- Various working groups within the alliance tackle specific business and technology potential issues of Ethereum including privacy, confidentiality, scalability, and security.
- EEA desires to align the interests of the Ethereum developer community with those of businesses for the overall growth of the Ethereum ecosystem.
Who is a part of the EEA?
Members of the EEA span across different industries worldwide. Some of the early members include Microsoft, Intel, and J.P. Morgan. In addition, the EEA also includes blockchain startups, research groups, and academic institutions. The extensive variety of members ensures a broad landscape of perspectives, experience, and resources for tackling blockchain-related challenges.
What is the purpose of the EEA?
The EEA was established to bring together companies and other entities with a shared interest in utilizing Ethereum for business. Its purpose is to develop standards and resources to assist businesses using Ethereum. Developing best practices, open standards, and open-source reference architectures help to prevent multiple, incompatible versions of Ethereum across organizations.
When was the EEA formed?
The Enterprise Ethereum Alliance was officially announced on February 28, 2017, during the Consensus 2016 blockchain conference.
Where is the EEA based?
As a global organization, the EEA does not have a single physical location. While it was founded in New York, today, the members of EEA are spread out across the globe.
Why was the EEA established?
The EEA was established to provide a framework for enterprises wanting to benefit from the decentralization and smart contract capabilities of Ethereum. It seeks to enhance the efficiency and scalability of Ethereum blockchain solutions for businesses.
How does the EEA operate?
The EEA operates through several working groups. Each group focuses on a particular matter such as tokenization, banking, healthcare, or supply chain. By mobilizing experts in each field, the EEA leverages the collective knowledge and experience of its members to drive forward Ethereum’s capabilities in the enterprise environment.
