Enterprise Ethereum Alliance

The Enterprise Ethereum Alliance is the reason why my attention is on ETH (Php44,440 as of this writing).

Microsoft, Telus, JPMorgan, Intel, UBS, BP among others are part of the launch members.   The purpose of the organization is to team up and figure out how to use ETH for business.  By "use ETH for business" I'm not referring to those companies investing in ETH or any crypto asset but rather, using the blockchain to improve internal processes.

The security of a decentralized network opens up new possibilities for companies that use databases.  I would imagine that it will be of high value to businesses that share databases with third parties or even allow third parties to update the database.  A database covering a network of suppliers for instance or if the company itself is within a network of suppliers, would offer a higher level of trustworthiness if it were running on a blockchain like ETH. 

While unrelated to this post, just as an FYI, I'm long on ETH (I'm actually not sure if the business applications will increase the value of individual tokens on the market.  I'll post when I know).

What I do see clearly at the moment is that blockchain is a tool that will change the internet.  When the internet was developed it changed life significantly.  I believe that the blockchain will have an equal or greater impact on life.  It's like another "internet creation" event.

One way of looking at it is that the internet was built on the premise of having only trustworthy participants.  Now, it is problematic because a network built on that premise is hard to keep secure.  The blockchain may be an answer to that. It may provide the means for which to ensure that the data available online is trustworthy.


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