Ethereum Consortium Launches Token Initiative With Microsoft, JPMorgan Chase, Others
Marie Huillet's original article for cointelegraph.com reduced by 42%
The Enterprise Ethereum Alliance has launched a blockchain-neutral Token Taxonomy Initiative in partnership with major firms, according to a press release from EEA on April 17. The initiative will seek to define tokens in non-technical and cross-industry terms in a bid to drive enterprise token adoption at scale. Members of the initiative reportedly include global consulting firm Accenture, major banks Santander and JPMorgan Chase, blockchain incubator ConsenSys, Big Four auditor EY, tech giants Intel, Microsoft and IBM, blockchain consortium R3, international think-tank The Blockchain Research Institute, blockchain r&d firm Clearmatics and others.
The new Token Taxonomy Initiative will aim to establish a shared set of terms and definitions for tokens - whichever blockchain they derive from - as a cornerstone for businesses and developers. As well as clarifying the concept and scope of the token model, the initiative will seek to address use cases, taxonomy and terminology and technical specifications. The initiative will be structured to include a Token Taxonomy Framework accompanied by an educational initiative, which will be run through structured Token Definition Workshops.
As previously reported, the EEA - which counts over 500 members - is engaged in ongoing token standards work, which began with a focus on Ethereum specifications.
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