The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts.Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.Get The Latest Updates Watch The Launch Video Trust, Privacy & Performance Ethereum's intrinsically trusted system is the most promising solution for enterprise Blockchain adoption, given its maturity and multi-purpose design.Privacy and Performance improvements will be mandatory to achieve enterprise-ready status and will be the focus of Enterprise Ethereum’s roadmap.Community & Resources In partnership with the dedicated and robust Ethereum community, Enterprises are coming together to produce the industry standard, open source, free to use blockchain solutions that will be the foundation for businesses going forward.

Membership Inquiries Launch Members The Ethereum Logo is Property of the Ethereum Foundation.Any derivations of the Ethereum Foundation logo found on this site are property of the Enterprise Ethereum Alliance with attribution to the Ethereum Foundation.Allow Facebook friends to see your upcoming events?Yes (Recommended) No, keep my events secret SaveEthereumBig Business Giants From Microsoft to J.P.Morgan Are Getting Behind EthereumRobert HackettThirty big banks, tech giants, and other organizations—including J.P.Morgan Chase, Microsoft, and Intel—are uniting to build business-ready versions of the software behind Ethereum, a decentralized computing network based on digital currency.The group, called the Enterprise Ethereum Alliance, is set to debut at a summit in Brooklyn, New York on Tuesday, during which members J.P.Morgan Chase (jpm) and Banco Santander (san) are scheduled to demonstrate a pilot of the financial technology as it exists today.The pair plan to show off a "spot trade" on the foreign exchange market for global currencies using an adaptation of Ethereum as the settlement layer.Ethereum uses a blockchain, often referred to as a distributed ledger, to record and execute transactions without the need of a middleman.

Instead of a centrally managed database, copies of the cryptographic balance book are spread across the network and automatically updated as any payment takes place.Relatedvoice assistantsGoogle Home Outsmarts Amazon Alexa in 3,000 Question Quizvoice assistantsGoogle Home Outsmarts Amazon Alexa in 3,000 Question QuizSatoshi Nakamoto, the mysterious inventor of Bitcoin, first introduced the concept of a blockchain to the world in a foundational white paper nearly a decade ago.bitcoin farming linux(You can read more about Ethereum, a more flexible and developer-friendly alternative to Bitcoin with its native cryptocurrency, Ether, in this Fortune feature.)Get Data Sheet, Fortune’s technology newsletter.The Ethereum alliance arrives as a challenger to several other extant blockchain ventures.bitcoin qr code iphone

The R3 consortium, for example, counts scores of partnering banks among its members, despite recent high-profile departures by Goldman Sachs, Santander, and Morgan Stanley.It has created "Corda," its own take on a blockchain.IBM (ibm), meanwhile, has spearheaded another initiative known as the Hyperledger Project, part of the non-profit Linux Foundation.That group maintains the "fabric" blockchain codebase, which as been used in supply chain trials with Wal-Mart (wmt).Much of the interest to date from traditional financial firms involves "private" blockchains, meaning permission from an authority is required before a party can join the network.bitcoin china wiredThe original versions of Bitcoin and Ethereum have public networks that anyone can join.bitcoin cloud mining gratis(At press time, the market caps of their cryptocurrencies were approximately $19 billion and $1.4 billion, respectively.)Alex Batlin, blockchain lead at Bank of New York Mellon, said that while the Ethereum alliance will focus on the development of private blockchains, the hope is that these will one day link up with the public Ethereum blockchain, which is open to all."Thatlitecoin plugin

interconnection of public and private chains actually creates a very strong network," Batlin said on a call with Fortune."Each chain strengthens the other at an exponential level."Inthe view of its proponents, Ethereum's public and private networks will become analogous to intranets versus internets; they will share standard protocols, but have different configurations for privacy and security, depending on each organization's needs.Members of the Ethereum alliance include Accenture, BBVA, BNY Mellon, BNP Paribas, BP, Cisco, Credit Suisse, ING, Thomson Reuters, and UBS.bitcoin al jazeeraAlso joining is IC3, or the Initiative for Cryptocurrencies and Contracts, an academic group consisting of researchers from universities such as Cornell University, UC Berkeley, and Israel's Technion.Several representatives from alliance firms cited the energy surrounding Devcon2, Ethereum's fall developer conference in Shanghai, as the focal point that led to their collaboration on this effort.

Despite multiple hacks on Ethereum-based applications and a controversial splitting of the Ethereum network, enthusiasm in the network has apparently not diminished.J.P.Morgan is responsible for developing the basis of the blockchain tech for the alliance.Called "Quorum," the bank's code has been designed to add privacy protections into the mix, among other tweaks.The partners will help each other develop the foundations for different use cases, such as post-trade settlement, payments between banks, and supply chain tracking, while competing on applications and services built atop the networks.The top priorities for the alliance now include ensuring scalability and security.The other founding members of the alliance are BlockApps, Nuco, AMIS, Andui, CME Group, ConsenSys, Fubon Financial, brainbot technologies, Chronicled, Cryptape, The Institutes, Monax, String Labs, Telindus, Tendermint, VidRoll, and Wipro.“Like many others, we’re a part of R3.Most of you are probably thinking ‘what for’?” So said RCI Bank head of innovation and partnerships Jean-Christophe Labarre about participating in one of the bigger consortiums bringing together institutions looking into blockchain technology.

The comment drew some laughter from the crowd of attendees at day one of the developer-focused EDCON conference in Paris, France.The reaction seemed to voice agreement from the developers that they were not so excited by the promise of private consortium applications when compared to the enthusiasm for public ethereum blockchain which anyone can join.Labarre was one of the first to address the crowd on day one, but the reaction seemed to extend to other private implementations as well.For example, Enterprise Ethereum, first reported on by CoinDesk at the beginning of the year, is a secretive project that's in the process of emerging from the shadows.Public details are, so far, thin on the ground, but the gist is that it seems like an equivalent of R3 but utilizing ethereum, with big banks like JP Morgan and Santander reportedly joining ranks.Knowing that, attendees shared opinions on enterprise applications of ethereum in general and whether or not it would have an impact going forwards.

While some were ambivalent, the most common view seemed to be that it would benefit the public ethereum blockchain overall."I think it would be a good way for people at the corporate world to hear about Ethereum," Jorge Izquierdo, tech lead at ethereum project Aragon, told CoinDesk, adding: “Probably they have some use cases, but I personally think the public chain will eventually work and will be more important.” Having said that, his partner, Aragon project lead Luis Cuende, sounded less convinced, saying: “In some way it misses the point."Others seemed more optimistic.Yessin Schiegg, former advisor for the Ethereum Foundation, described what he sees as the potential applications.“Banks putting up their own blockchain system consortium that has the benefit of cost-savings to the banks.It’s a new way to get together.It’s a good thing,” he said.It’s fairly common to hear comparisons of budding public blockchains (such as ethereum) to an early internet, which took time to grow and develop.

Some go as far as to argue that private blockchain implementations are like intranets – the private networks that were popular with organizations for a time.But, the open internet is what ultimately won out.And, the open internet, so goes the analogy, is more like the public ethereum blockchain, since it's one big system to which anyone can connect.Schiegg made the same analogy, but with his own twist, arguing that private internet lines still have an impact today, so private blockchain networks probably will too.“I think it will survive for a long time.Nowadays, 20 years into the internet, we still have banks having bulletin boards with dedicated lines which are completely cut off from the internet.Permissioned blockchains will survive and coexist and will serve their purpose,” he said.This echoes what others in the space have said for a while, that private and public blockchains will each have a place in industry going forwards.Still, Schiegg emphasized (multiple times) that he thinks that the main ethereum chain will have a more far-reaching impact overall.

“True disruption will come from public implementations," he said."But it will take a lot more time because you can set up an MPV [minimum viable product] within months, whereas in order to take advantage of the network affect, the public blockchain needs to grow for years."The EDCON conference talks focused mainly on potential additions to the public ethereum platform, and enterprise applications were not often the subject of discussion.However, CEO of Brainbot Technologies Heiko Hees, perhaps best known for work on the Raiden Network, delivered a presentation on Trustline Networks, which he described as “Ripple for ethereum” that would be one day be downloadable as a mobile app.Outside of the presentations, the Aragon team offered bold ideas for how enterprise implementations could potentially provide a 'Trojan horse' for the public ethereum blockchain – a common interpretation of the developing situation.Izquierdo offered the example of how Aragon-style firms (essentially DAOs, or leaderless companies) could first be implemented on private networks run by a national government, before they move to a more public venue.