Key highlights:
- AllianceBlock creates innovative infrastructures to enable interoperability between the TradFi and DeFi industries
- INATBA is an association that works on creating blockchain and cryptocurrency regulations through the Government Advisory Body
- AllianceBlock’s membership in INATBA means that the company will have a say in determining the legal regulations pertaining to DeFi
AllianceBlock has joined the International Association for Trusted Blockchain Applications (INATBA) to comply with the law by interacting with policymakers and regulators. This development marks a new milestone for AllianceBlock’s vision to take blockchain technology to the next level.
What is INATBA?
INATBA was launched in 2019 in partnership with the European Commission and is the largest association in its category in Europe. Representing a broad cross-section of the cryptocurrency and blockchain industries, the association of 140 SMEs, international organizations, regulators and policymakers have a critical role in giving a collective voice to industry actors.
Dialogue with international organizations and lawmakers through the Government Advisory Body, which includes members such as the Government of Canada, the European Commission, the European Investment Bank and the Israel National Digital Agency, the association is working on issues such as bringing additional clarity to key terms in the Market for Crypto Assets Market Regulation, which the EU continues to prepare.
INATBA’s work includes much more than regulatory issues. The Association is also active in many other key R&D areas spanning the industry, such as CBDCs, self-sovereign digital identities, and blockchain sustainability. Among these studies, there are studies such as increasing efficiency by using blockchain in agriculture and the supply chain. INATBA also hosts a variety of regular learning and networking events.
INATBA members are divided into four business categories based on their size, and non-profit organizations are assigned a fifth category. In each category, two participants are selected to join the Board of Directors. Members include household firms such as Fujitsu and L’Oréal, blockchain industry pioneers such as Coinbase, Binance, and Aave, and TradFi institutions such as Deutsche Börse.
What Is the Importance of This Collaboration for AllianceBlock
By joining the ecosystem of crypto advocates, AllianceBlock aims to ensure that other crypto and blockchain projects can safely benefit from AllianceBlock’s DeFi solutions package. Aiming to connect with all companies that plan to use blockchain technology and applications, AllianceBlock will play a role in a collective effort to shape policy and lawmaking around crypto assets as part of INATBA.
Regulation is inevitable for the crypto market, so being a member of INATBA, which operates in the sphere of legal regulations considering crypto compliance, means that AllianceBlock has a say in the field of regulatory-compliant DeFi.
Matthijs De Vries, CTO and Co-Founder of AllianceBlock, said:
“AllianceBlock has always strived to help improve the industry as a whole and would rather work with like-minded people and policymakers than against, but always keeping compromises to a minimum to preserve decentralized ideologies. This partnership is a real opportunity to solve meaningful and impactful issues in the industry and to connect with a strong network of experts that share the same goals.”
Ricardo Simões, Executive Director of INATBA, said, “INATBA is excited to have AllianceBlock as a member and looks to support their mission to create a stable, compliant channel for traditional financial players to access decentralized markets, especially in the DeFi sphere, as we accelerate the positive adoption of blockchain solutions, transparent, inclusive governance, and ongoing constructive dialogue with authorities and regulators.”
About the AllianceBlock ecosystem
AllianceBlock provides solutions to problems in the two areas to build seamless gateways between DeFi and TradFi. Striving to increase capital flows, the future of finance, and technological innovation, the project has created an integrated system where the best of both industries can work together.
Aiming to increase interoperability by bridging traditional finance to decentralized finance projects with compatible and data-driven access to ecosystem tools, AllianceBlock is building the financial systems of the future powered by the platform’s native ALBT token.
AllianceBlock is building a next-generation financial infrastructure that will provide regulated financial institutions worldwide with the tools they need to seamlessly access DeFi space. You can follow AllianceBlock updates and news on Twitter and other social media channels.
