Enterprise-Focused Ethereum (ETH) Standard Consortium EEA to Create ‘Token Task Force’

According to recent reports, the Enterprise Ethereum (ETH) Alliance (EEA), a global blockchain community that boosts over 500 members, is set to launch a “token task force” this year. The EEA confirmed the report to Cointelegraph on February 13 of 2019.
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EEA Executive Director: Task Force is Still in the Design Phase

Ron Resnick who serves as the executive director of the EEA said that the task force is still very much attainable and is presently in the design stage. According to him it is scheduled for launch in the first half of 2019. In his words:
We are looking into creating a token task force. We hope to have completed our objective by the first half of this year. The endeavor is going to be focused on offering support for the fungible and non-fungible, ERC-20 and ERC-721 tokens respectively.”

EEA Expects the Initiative to Contribute to Enterprise Tokenization

Resnick also hopes that the initiative will immensely contribute to enterprise Tokenization. He expects the endeavor to help build public confidence in digital assets. Moreover, the Ethereum Enterprise Alliance will reportedly keep its focus on the matter of interoperability between multiple Blockchains.
According to its the EEA’s website, the group is an organization that is designed to focus on the creation of standards that will help streamline processes for enterprises looking to adopt Ethereum-based Blockchain techs.
On February 14, the Ethereum Enterprise Alliance announced that it was opening a new office in China, according to Cointelegraph. Weijia Zhang, who has served as the vice president of engineering with Blockchain interoperability firm Wanchain, was appointed to the office of director for the new branch in China. Zhang’s range of duties at the new extension of the EEA will reportedly be the handling and facilitating of the advancement as well as the adoption of EEA’s standards by fully taking part in regular local hackathons, conferences, training sessions, and workshops.

According to the report the new EEA office in China has been designed to help all members of the organization in the Chinese nation in leveraging of Ethereum Enterprise Alliance standards as well as other related resources.

Industry Players Believe in Tokenized Assets for the Future

We can recall from a previous report in October of last year, that the Ethereum Enterprise Alliance entered into a partnership with Hyperledger (another leading player in the Blockchain community) Hyperledger. Hyperledger is an open-source Blockchain-based platform offered by the Linux Foundation. Both Blockchain consortiums merged each other’s organizations to become “Associate Members” in a bid to support the higher adoption of enterprise blockchain.
As per a previous report by Cointelegraph, most the leading cryptocurrency industry players are of the view that tokenized assets will inevitably become the main trend in the crypto industry in the near future. Take an example, Tyler and Cameron Winklevoss (popularly called the Winklevoss twins), who are both Bitcoin (BTC) bulls and the founders of crypto exchange platform Gemini, are also of the view that the initial coin offering “boom” of 2017 has finally come to an end and tokenized assets have started to come to the forefront.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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