- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Major Spanish Banks Join EU Blockchain Platform
Called the International Association for Trusted Blockchain Applications, the initiative will be “legally set up” sometime in Q1 2019.
With the European Commission (EC) set to launch a blockchain initiative in early 2019, two major Spanish banks have announced that they have joined the association.
BBVA (BME:BBVA), one of Spain’s top banks, announced on Tuesday (November 20) that it is one of the first five banks to join the EC’s International Association for Trusted Blockchain Applications (IATBA). Spanish publication Expansion named Banco Santander (BME:SAN) as the second bank joining the IATBA.
According to BBVA’s press release, the association could be “legally set up” as soon as the first quarter of next year.
The announcement comes following an EU Blockchain Roundtable which took place in Brussels, Belgium on Tuesday.
Called “Bringing industries together for Europe to lead in blockchain technologies,” the platform is aiming to create a “comprehensive EU strategy” in efforts to ramp up innovations surrounding blockchain.
“Blockchain will transform digital services. This is a major opportunity to increase trust and to improve services in a wide range of industries and sectors,” the IATBA claims.
BBVA said in its release the purpose of the initiative is to generate support from private blockchain and distributed ledger technology (DLT) experts to “contribute to outline the EU’s strategy regarding these technologies.”
Carlos Kuchvovsky, head of research and development of new digital business at BBVA, said in the release this project will play an important role in establishing blockchain best practices and standards in Europe. Kuchvosky stressed that the initiative will be crucial in offering clarity to the “regulatory uncertainty” surrounding blockchain and other technologies such as artificial intelligence.
“Blockchain is not only a technology, but it engenders new business models creating a ‘tokenized economy’ and paving the way back to a decentralised economy in the future,” he said.
The roundtable discussion comes following the EC forming the European Blockchain Partnership (EBP) in April of this year, which has now been signed by 27 countries. Goals of the EBP include creating a trusted, secure and resilient European blockchain services infrastructure with standards in terms of privacy, cybersecurity, interoperability and energy efficiency compliant with EU laws.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.