The alliance aims to develop standards and technology to make it easier for enterprises to use blockchain code Ethereum in the latest push by large companies to move toward distributed ledger systems.
Furthermore, among other objectives, the association wants to enhance the privacy, security and scalability of the Ethereum blockchain, making it better suited to business applications, according to the founding companies. In addition, companies in a wide range of industries are hoping that it can help them streamline some of their processes, such as the clearing and settling of financial securities.
Members of the 30-strong group also include Accenture, Banco Santander, BP, Credit Suisse Group, UBS Group, Banco Bilbao Vizcaya Argentaria, ING Groep, Bank of New York Mellon Corp, Thomson Reuters Corp and startups ConsenSys and BlockApps.
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