A new European blockchain association has been formed to drive the regulatory and business improvements needed for further adoption of distributed ledger technologies.

The formation of the International Association of Trusted Blockchain Applications (INATBA) was made official yesterday (Wednesday) at the European Commission in Brussels, after politicians, corporations, and a wide range of blockchain startups signed the official charter.

More than 100 organisations are involved from corporate giants such as Anheuser-Busch and Accenture, to startups such as ConsenSys and Berlin-based IOTA.

“Developing a regulatory framework around distributed ledger and blockchain technologies is essential to their widespread adoption and growth,” said Dominik Schiener, co-founder and co-chair of IOTA Foundation, according to Venture Beat.

“We have established our own Public Regulatory Affairs team to lead this effort and are excited to be one of the founding members of INATBA. The strength and size of this association, as well as the support of the European Commission and other governments, only further shows the future limitless potential for distributed ledger technologies.”

INATBA will organise forums where regulators and policymakers can interact with corporations and startups to develop the necessary regulatory incentives.

Image: mmi9