Avaloq, an international fintech providing services and digital solutions to banks and wealth managers, announced on Thursday it has joined the Enterprise Ethereum Alliance (EEA), which is an open source blockchain initiative.
Avaloq reported that as a member of the EEA it will collaborate with industry leaders in pursuit of ethereum-based enterprise technology best practices, open standards, and open-source reference architectures in order to develop new innovative banking use cases leveraging the Ethereum technology. Thomas Beck, CTO at Avaloq, stated:
“We are very excited about joining the Enterprise Ethereum Alliance. This is an important step for us to further drive innovation connected to the blockchain technology. The EEA offers us access to additional knowhow and ideas to leverage this ground-breaking technology to address specific, enterprise-based use cases in the financial industry, but also in other fields relevant to our clients.”
Avaloq went on to add that with more than 400 member companies, the EEA membership base represents a wide variety of business sectors from every region of the world, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance.
“The EEA’s industry-focused, member-driven working groups are each tasked with creating and delivering specific advancements to the development and use of ethereum-based technologies.”