Enterprise Ethereum Alliance: Development of Corporate Blockchains

Enterprise Ethereum Alliance (EEA) is an enterprise that brings together representatives from more than 30 companies, founded to operate on the Ethereum blockchain. The company's main goal is to improve the basic parameters of the technology: security, scalability, privacy and network compatibility.

On January 28, 2017, in New York City, leading entrepreneurs, technology startup leaders, and development experts met to create and promote the technology known as Ent.Eth 1.0. EEA plans to develop Ethereum for use as a business-oriented technology using a hybrid architecture that uses both the private and public Ethereum network.

The official meeting, which was attended by more than 500 representatives of international banks, startups and leading blockchain developers, took place at Brooklyn’s 4 MetroTech Center. The board of directors included representatives from Microsoft, J.P. Morgan, Intel, ConsenSys, Accenture, Banco Santander, BNY Mellon, IC3, CME Group and Nuco (you can find the full list of founders on the official website).

Based on the presentations of the participants, the following goals of the EEA project can be identified:

Guidance and standardized framework for the Enterprise Ethereum protocol;
Maintaining compatibility with public Ethereum and its further development;
Rapid technical innovation and business-oriented leadership.
One of the key points discussed at the meeting was the benefits of interoperability for both public and private blockchains. Various code bases are being developed (Parity, Geth), which in the future will make it possible to change the current operating mechanisms and introduce specialized blockchains using proof-of-work and proof-of-stake technologies. EEA participants will develop the fundamentals of the technology, facilitate the use and implementation of the product. In the future, this will make possible the widespread use of blockchain and full compatibility of various projects (based on blockchain). The company is open to cooperation with members of the Ethereum community who have a desire to work on the common goals of the project and understand what needs to be done to develop the project.