The Chamber of Digital Commerce and the Enterprise Ethereum Alliance (EEA) have partnered to facilitate industry advocacy and education efforts around tokenization.
According to a Dec. 11 press release, the two blockchain advocacy organizations entered a strategic partnership to boost educational efforts in the field of digital assets and blockchain-based technologies by promoting their understanding, acceptance and use.
Interoperability initiatives and regulatory considerations
As part of the initiative, the parties’ staff will get access to their respective token-related efforts, which will subsequently enable joint participation in the EEA’s Working Groups and Token Taxonomy Initiative (TTI), and the Chamber’s Token Alliance. The entities will specifically focus on token interoperability initiatives and regulatory considerations.
Ron Resnick, executive director at EEA, pointed out the need of active engagement and collaboration with the blockchain community in order to deliver real-world value through tokenized enterprise solutions, while Perianne Boring, founder and president of the Chamber, admitted that the adoption of digital tokens faces a variety of challenges in terms of regulations and public policy, which should be addressed.
Actions taken by advocacy groups to promote blockchain adoption
Both the Chamber and EEA have actively participated in blockchain and digital assets adoption facilitation in recent months. In October, EEA revealed that it had created a new system of reward tokens that has the support of Microsoft and Intel. The token aims to incentivize and reward companies who are actively participating in a consortium.
Earlier this year, the Chamber encouraged the United States Commodity Futures Trading Commission and the Consumer Financial Protection Bureau to foster blockchain innovation. Generally, it asked both agencies to permit the introduction of new financial products based on blockchain technologies and to collaborate on efficient approaches that would promote investment and industry growth.
In November, the TTI unveiled a framework to standardize the construction of tokens, making its Token Taxonomy Framework (TTF) available to the public. The TTF provided 14 draft tokens to serve as examples that are portable across definitions from Adhara, ConsenSys, Digital Asset, EEA, IBM, ioBuilders, Microsoft and R3.
