Net Element Joins the Enterprise Ethereum Alliance

Net Element (NASDAQ:NETE) has announced it has joined the Enterprise Ethereum Alliance, the world’s largest open-source blockchain initiative with over 250 companies.

As quoted in the press release:

Net Element’s membership to the prestigious alliance is complementary to the Company’s recently announced decentralized blockchain technology solution that will enable an unlimited number of value-added services (“VAS”) and support the adoption of Ethereum in the enterprise.

The EEA seeks to augment Ethereum adoption as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability and security.  Net Element is developing a decentralized crypto-based ecosystem to act as a framework for a number of value-added services that can connect merchants and consumers directly, via blockchain technology, while increasing the economic efficiency of all transactions conducted within the ecosystem.

Part of this initiative is the Company’s recently launched Netevia platform which delivers end-to-end multi-channel payment processing through easy-to-use APIs, point-of-sale (“POS”), e-commerce and mobile devices.  Netevia’s blockchain solution, code-named “VIA Protocol,” is currently under development and is intended to enable new billing methodologies over the blockchain as well as create dynamic service offerings such as rewards, loyalty and one-click payments.

Click here to read the full press release.