Today the InterWork Alliance (IWA) announced it is merging with the Global Blockchain Business Council (GBBC). The IWA launched just over a year ago to focus on the Token Taxonomy Framework (TTF), which was initiated by the Enterprise Ethereum Alliance.
The goal is to enable organizations to adopt tokenized assets and distributed business models, but standards are needed to avoid everyone doing their own thing. For example, a sustainability working group focuses on standardizing carbon offsets, a topic where blockchain is getting considerable attention. And another group covers trade and electronic bills of lading, an area where others are also developing standards.
“From carbon credits, to collectibles and insurance certificates, business across industries are realizing the broad applicability of digital tokens to provide more transparent and secure infrastructures,” said Accenture’s David Treat and GBBC Board Chair.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
