Enterprise Ethereum Alliance Welcomes New High-Profile Members

Enterprise Ethereum Alliance, the consortium working to shape the future of the ethereum blockchain, has welcomed several new high-profile members, as it topped 150 participants for the first time.

The independent not-for-profit organization, which is comprised of companies across a range of industries and sectors, was joined by the government of the Indian state Andhra Pradesh, as well as a selection of over 30 companies including Cisco, MasterCard and Scotiabank.

The news was welcomed robustly in ethereum markets, with some analysts suggesting it prompted a reversal in downward price pressure for ethereum’s ether when the news broke.

The inclusion of MasterCard in the latest round of new members is thought to be particularly significant, and their role will no doubt attract the attention of competitors like Visa and American Express, already involved in blockchain projects of their own.

The state government of Andhra Pradesh becomes only the second executive to join forces with the Alliance, with the U.S. state of Illinois the trailblazer. It is thought now that several other state-level governments could be preparing to signal support for the project in the months to come.

JA Chowdary, a representative of the Andhra Pradesh government, said the move was critical to developing market access to the ethereum community, and the range of benefits the technology is expected to deliver for the region in the near future.

“We are keen on integrating blockchain technology into governance and look forward to our collaboration with Enterprise Ethereum Alliance and provide market access to the community.”

The Enterprise Ethereum Alliance work together to create common standards for developing the ethereum ecosystem, which many analysts expect could underpin some of the most exciting developments to come from blockchain technology.

In particular, the ability of ethereum to handle smart contracts and decentralized apps means that it could act as the core blockchain platform in future.

The Enterprise Ethereum Alliance only launched in February, making the total 150 contributors signed up to date all the more impressive.

With today’s new members in the fold, their development work continues toward creating a uniform platform for independent private blockchain systems to communicate between each other.