There is no doubt that Ethereum is the largest blockchain platform, leading the crypto space with its smart contract solutions. It is often considered the first blockchain network to successfully implement the concept of smart contracts. Besides getting popularized, it is necessary to bring its applications into practicality or reality.
And, that’s where the Enterprise Ethereum Alliance (EEA) comes into the picture. The alliance is a group of organizations, from blockchain companies to financial services, united with the main goal of leveraging the Ethereum blockchain in day-to-day business operations.
EEA is a member-led organization with the united goal of adopting the Ethereum blockchain in business use cases. The Alliance started in February. On August 28, 2017, there were 30 people. This group includes big companies, new businesses, banks, digital money systems, and more.
The main goal is to make Ethereum a high-quality technology that members and companies can use for their everyday activities. It brings various companies together to collaboratively work on the advanced solutions that the Ethereum blockchain can provide.
From JP Morgan Chase to Accenture, many such companies are part of the alliance. This alliance empowers the Ethereum ecosystem to develop new business opportunities, drive industry adoption, and learn from and collaborate with each other.
The alliance has focused its operations on four pillars. These include understanding enterprise requirements, building standard specifications that address these requirements, evolving and including the public Ethereum blockchain, and lastly, achieving global interoperability through certificate programs.
These tasks guide the alliance to work and achieve the objectives they set for it. Besides these, the alliance holds events and conducts research to highlight its development in the blockchain space. The alliance also released various reports about trends in the blockchain industry.
What makes it unique is its objective to help enterprises and businesses adopt and use the Ethereum blockchain in business use cases. We all know what potential Ethereum holds as a blockchain network. It can help businesses in various ways, such as by enabling them to make dApps, making their operations faster, and many more.
That’s why, it is necessary that someone bring these implications into the practical world so that we can fully utilize the potential of blockchain technologies. For this purpose, EEA remains at the forefront, enabling businesses to use Ethereum in their daily business operations.
The other thing that makes it unique is that it is the only alliance that is working for this purpose. It means that there are no such alliances for any other blockchain platforms, such as Solana, Cardano, and many others.
Ethereum, being the largest blockchain network in the crypto space, requires someone to bring its implications into reality. And, for this purpose, a group of organizations called EEA has formed so as to help businesses or organizations adopt and use the Ethereum blockchain in their daily uses.
Fortune 500 corporations, start-ups, blockchain startups, and financial services firms all belong to the group, which has the same goal of making Ethereum an enterprise-grade platform. In the coming future, hopefully, there will be more partnerships with the same goals.