EU and Major European Banks to Create a Blockchain Association
The European Commission and the 5 largest EU banks have agreed to create an international blockchain association. The new association should develop clear rules and regulations for the blockchain industry, as well as promote them internationally.
BBVA, one of the largest Spanish banks, has already confirmed its participation in the newly created organization called the International Association for Trusted Blockchain Applications (IATBA).
The name of another 4 participating banks is yet unknown. But the media outlets reported that Santander could become one of them.
Association should start working in the first quarter of 2019. Its primary goal is to develop simple and understandable rules for the blockchain industry and popularize these standards internationally. IATBA should also assist the European authorities in developing a blockchain implementation strategy.