The Enterprise Ethereum Alliance (EEA) today announced the organization will demonstrate how EEA standards are contributing to drive the token-based blockchain economy at the Ethereum Foundation’s conference, Devcon 5, October 8-11, 2019, in Osaka, Japan.
October 8, 2019
New EEA Specifications, Demonstrations, and Mainnet Initiative Highlight Maturation of Real Deployments of Enterprise Ethereum Applications
OSAKA, JAPAN [Devcon 5: EEA Table 14] — Oct. 8, 2019 — The Enterprise Ethereum Alliance (EEA) today announced the organization will demonstrate how EEA standards are contributing to drive the token-based blockchain economy at the Ethereum Foundation’s conference, Devcon 5, October 8-11, 2019, in Osaka, Japan. The EEA will lead several sessions, including a co-hosted Open Forum with the Ethereum Community and its first EEA Mainnet Initiative meeting, to discuss the commercial market requirements needed for businesses to deliver services on the Ethereum mainnet.
The EEA also published new versions of its specifications; documents available for free, public download on the EEA website at https://entethalliance.org/technical-documents/:
“2019 has been a year of growing market acceptance, and at Devcon 5 will be where attendees will experience how Ethereum – enabled by EEA member-driven standards – delivers real-world value through tokenized enterprise solutions,” said EEA Executive Director Ron Resnick. “Join us at our co-hosted Open Forum with the Ethereum community and our Mainnet Working Group meeting to define the building blocks needed to drive the ecosystem forward.”
Attend the First of its Kind Reward Token Trusted Compute Workshop
Learn how the first EEA standards-based trusted compute system with trusted reward tokens (reputation, reward, and penalty) offers a unique look at how to incentivize membership participation within an organization. Developed by the EEA Trusted Execution Task Force — ConsenSys Solutions, PegaSys, and Kaleido; Envision Blockchain; iExec; Intel; and Microsoft, the system and interactive workshop enables attendees to:
- Learn how the development of multi-vendor applications benefit from EEA standards, Token Taxonomy Framework definitions, and Open Ethereum (ERC) and W3C web standards
- Experiment with roles: within a consortium, as an enterprise, and as an enterprise employee
- Utilize self-sovereign identity and credentials as an enterprise; earn, share, and redeem token-based rewards; and earn a tokenized reputation
Attend the Open Forum with the Ethereum Community: Ethereum Roadmap 2020
Co-Hosted by the EEA, Ethereum Magicians and Cat Herders
All attendees are invited to the Devcon 5 Open Forum to discuss ways the EEA and Ethereum community can foster collaboration, strengthen relationships, and build a bridge for future communications. EEA Executive Director Ron Resnick and EEA Director of Community Paul DiMarzio will represent the EEA in this interactive discussion focused on advancing best practices for using the Ethereum mainnet to build commercially viable business applications.
Attend the EEA Mainnet Working Group Overview Meetup
Join the EEA for an interactive discussion around the new Mainnet Working Group initiative. Co-Chaired by John Wolpert, ConsenSys Senior Product Executive, the Mainnet Working Group will look to harmonize the way industries and ecosystems work on the blockchain. RSVP for the first EEA Mainnet Working Group call, October 22, 2019, open to EEA members and non-members.
Meet with EEA at its Devcon 5 Table 14
EEA Executive Director Ron Resnick and EEA Director of Community Paul DiMarzio will be available to discuss the EEA’s strategy, vision, and specification roadmap. Devcon 5 attendees, EEA members, developers, and enterprise leaders are invited to network with the EEA at our stand on Tuesday and Wednesday, and throughout the conference.
EEA Member Supporting Quotes:
EEA Director of Community Paul DiMarzio
- “I’m excited to have this opportunity to meet with Devcon attendees and discuss how everyone in the broader Ethereum community can get involved in the evolution of our technical work. I encourage all Ethereum developers to come to the workshop and open forum to engage with us and discuss how EEA specifications can help drive overall Ethereum adoption,” said DiMarzio. “Ron and I will be on hand for interactive discussions covering the most current Enterprise Ethereum advances, coming innovations, and real-world use cases.”
Chair of the EEA Trusted Execution Task Force Jean-Charles Cabelguen, iExec
- “We have been able to leverage the skills of companies and startups from all over the world to build up a trusted compute specification answering to enterprise-level requirements. Our Trusted Reward Token demonstration to be unveiled at our Devcon 5 workshop illustrates how EEA standards can be articulated to sustain concrete projects,” said Jean-Charles Cabelguen, chair of the EEA Trusted Execution Task Force and iExec chief of Innovation and Adoption. “I would like to thank Banco Santander, Chainlink, ConsenSys, Intel, Microsoft, and all the EEA members that provided contributions to the Off-Chain Trusted Compute specification as well as those that help drive the trusted reward-token workshop.”
- Read EEA Member iExec’s blog post on the specification.
EEA Founding Board Member Tom Willis, Intel
- Intel is a contributor to the EEA Off-Chain Trusted Compute Specification and participant in the workshop demo. “We believe Trusted Execution Environments like Intel® SGX can help software developers build better multi-party compute solutions that protect data everywhere,” said Tom Willis, EEA founding board member, and a director at Intel’s Open Source Technology Center. “Intel is committed to helping solve the privacy and security challenges that will further enable blockchain adoption.”
- Read EEA Member Intel’s blog post on the workshop.
EEA Trusted Execution Task Force Member Dr. Andreas Freund, ConsenSys
- “The work on the EEA Trusted Reward Token workshop initiative was especially exciting and gratifying because it not only demonstrated that seven very different EEA members can successfully collaborate to combine emerging technologies in novel ways that enable new economic benefits for enterprises, but also that the EEA is maturing as an organization with a focus on co-creating real-world Ethereum based applications that deliver not only value to its members but also to the larger Ethereum ecosystem,” said EEA member Dr. Andreas Freund, Blockchain Swiss Army Knife, ConsenSys .
EEA Board Member Joseph Lubin, Co-founder of Ethereum, and Founder of ConsenSys
- “In the past year, we have seen a significant acceleration in interest and adoption of Ethereum technology by enterprises. Major players, from big four consulting firms to major financial services companies have not only begun using public Ethereum but also are building infrastructure more tailored to enterprise uses-cases on the Ethereum mainnet. As stewards of the standards and growth of Ethereum, it has been a positive development to see the Ethereum Foundation and the Enterprise Ethereum Alliance continue to strengthen their collaboration at DevCon 5 and beyond. Both organizations are committed to evolving the technology so that it serves mainstream enterprise and government as well as the next generation Web 3.0-based decentralized digital economy,” said Joseph Lubin, EEA Board member, co-founder of Ethereum, and founder of ConsenSys.
EEA Board Member Aya Miyaguchi, Ethereum Foundation
- “This is an exciting time,” said Ethereum Foundation Executive Director and EEA Board Member Aya Miyaguchi. “As blockchain adoption accelerates, it’s important that the Ethereum Foundation work to connect businesses with the latest research and development coming from our worldwide community, and that we convey our challenges and experiences while better understanding those impacting industries. I hope that this common understanding and cooperation will bring Ethereum technology more broadly and effectively to the world.”
EEA Board Member Marley Gray, Token Taxonomy Initiative Chair, and Microsoft Principal Architect
- “The rapid acceleration of technology innovation around tokenization and the Ethereum mainnet is changing how consumer-facing industries will deliver value through peer-to-peer transactions and services. The EEA brings together a standards-based approach for tokenization and off-chain compute to define the building blocks needed to drive global interoperability,” said Marley Gray, EEA board member, Token Taxonomy Initiative chair, and principal architect, Microsoft.
EEA Associate Member Brian Behlendorf, Executive Director, Hyperledger
- “We are thrilled to see the evolution of the EEA and Hyperledger collaboration around the EEA’s Trusted Execution Task Force. Not only is the prototype implementation of those proposed standards being built within Hyperledger Lab, but the Devcon 5 EEA Reward Token Trusted Compute demo leverages Hyperledger Besu – the first Ethereum public blockchain on Hyperledger and one that conforms to EEA’s Client Specification. We expect developers building Enterprise Ethereum-related technologies to be motivated to submit projects to Hyperledger, and we hope that project maintainers will consider taking de-facto interfaces that are suitable for standardization to the appropriate Special Interest Group at the EEA,” said Brian Behlendorf, executive director, Hyperledger, an EEA Associate Member.
*Note to Editors:
EEA Rewards Token-based Trusted Compute Workshop Demo Contributors
The EEA rewards token trusted compute application runs in Besu, an EEA standards-based and Hyperledger-based enterprise Ethereum client, and connects to a Trusted Compute pool which conforms to the EEA Off-Chain Trusted Compute Specification. Kaleido is used to set up the blockchain network for this application and managing the Besu nodes on Microsoft Azure. The Trusted Compute pool is hosted on the Microsoft Azure cloud utilizing Intel® Software Guard Extensions (Intel® SGX). Envision Blockchain built the application administration front-end and back-end, iExec implemented the off-chain token execution logic and deployed the Trusted Compute pool while ConsenSys built the Smart Contract infrastructure for tokens and identity.
About the EEA
The Enterprise Ethereum Alliance (EEA) is a member-driven standards organization whose charter is to develop open blockchain specifications that drive harmonization and interoperability for businesses and consumers worldwide. Our global community of members is made up of leaders, adopters, innovators, developers, and businesses who collaborate to create an open, decentralized web for the benefit of everyone. To join the EEA, please reach out to [email protected].
Supercar maker Mazzanti Automobili launches security token offering
Italian luxury car manufacturer Mazzanti Automobili has launched its security token offering on regulated digital marketplace STOKR.
As part of the offering, Mazzanti aims to raise 999,999 euros ($1.2 million) on STOKR to develop a special edition of its hypercar model Evantra Millecavalli R.
According to a Feb. 25 announcement, Mazzanti’s STO will allow investors to purchase MZZ tokens, priced at 1 euro each. The token is issued by Mazzanti via Blockstream AMP, a platform for the tokenization of securities built on the Liquid sidechain of Bitcoin (BTC), which has been directly integrated with STOKR.
As part of the STO, MZZ investors will be able to receive a 50% revenue share in the sale of the Evantra special edition. The offering is available for select European countries, with a minimum investment of 50 euros, the announcement notes.
Mazzanti’s founder Luca Mazzanti said that the company has been considering running an STO for a while. The company initially announced its upcoming STO plans earlier in February.
In conjunction with the STO, Mazzanti also announced that the company will allow its customers to purchase all editions of the Evantra model with Bitcoin starting from Feb. 25. The move echoes Tesla’s recent move toward accepting Bitcoin payment for its electric vehicles.
Based in Luxembourg, STOKR has been listing various STOs in compliance with capital market laws of the European Union. Last year, Germany’s Federal Financial Supervisory Authority approved ParkinGO’s offering as the first cross-border STO on STOKR.
Finance Redefined: Ethereum exodus continues as Binance ‘helps,’ Feb 17–24.
The parabolic rise of the Binance Smart Chain has been all over the news this week, aided by a few seemingly unfriendly moves by the exchange itself.
It started on Friday, when Binance suddenly froze withdrawals of Ethereum-based assets for about one hour. Many interpreted it as a move against the blockchain and its ecosystem, given that the cited reason was “congestion issues” — something one hardly imagines is a problem for an exchange, unless they shoulder withdrawal costs for the user.
The day after, FTX started shaming Binance for excessive promotion of BSC on the exchange. Specifically, FTX was apparently “spending millions” in failed deposits that came over the Smart Chain but were meant for Ethereum. FTX’s accusation toward Binance, one of its investors, is that the exchange put BSC as the default option for withdrawing many ERC-20 assets, which caused a lot of failed deposits to FTX.
I can’t say I’ve ever noticed Binance Smart Chain being “the default option” for withdrawals. BSC is the first listed when you attempt to withdraw something like USDC, though it does not actually select the blockchain for you. Still, I can see how some newbies could get swindled by this. People overestimate the degree to which terms like “ERC-20” are known in the casual crypto community. Testing the withdrawal now, Binance forces you to go through a quiz where you confirm you know what you’re doing by selecting BSC. I have no idea when this was introduced, but it’s not impossible that it’s a response to FTX’s statements.
Overall though, there’s nothing inherently wrong with one company using its products to promote another of its products. From the official responses it seems that the Ethereum congestion incident won’t happen again because they “upgraded the systems.”
Cheap tricks would never be able to undermine Ethereum without there being an underlying fundamental weakness. And I think we’ve all had enough with Ethereum gas fees. I tried a non-Ethereum DeFi product recently, and it felt so good to pay just a few cents for a complete interaction.
Binance Smart Chain is already processing more transactions than Ethereum and has over 5 million unique wallets. Ethereum, with its much longer history, is currently sitting at 140 million wallets in total.
Ironically, Ethereum fans should secretly want the bull market to end right now. The longer it goes on, the more gas fees will remain high, and the more people will want to migrate away and seed other environments.
Second largest liquidation day in DeFi history
Speaking of the end of the bull market, a massive slide in crypto markets triggered some $24 million in liquidations on Tuesday, the second highest loss in DeFi history. It would’ve been the highest if not for that infamous day in November when Compound thought Dai was worth $1.3.
The firesale was triggered by nothing in particular, though I suspect that rising bond yields are having their effect on the riskiest of assets on Wall Street, of which Bitcoin is the quintessential representative. And then Bitcoin dragged the rest of crypto with it.
I don’t normally talk about price because I’m not a financial advisor or even a successful trader. But I am feeling a lot of fundamental and sentimental indicators of a coming correction, ranging from a wavering stock market to, well, the strength of Tuesday’s dump.
To top it all off, my non-crypto feeds are being invaded by crypto stuff, which is never a good sign. I certainly hope that I’m misinterpreting what is actually unprecedented adoption and acceptance, but let’s face it — it’s all about price for now, while fundamentals are still lagging.
With layer two platforms and new blockchains coming online, we may get something useful out of crypto and DeFi soon. But everything could happen before we get there. Be especially careful right now and, most importantly, don’t get liquidated.
In other news
Blockchain soccer gaming startup Sorare raises $50M
Sorare, a major blockchain-based soccer gaming platform, has raised $50 million from high-profile investors backing major companies like Twitter, Instagram and Discord
The fresh Series A round brings Sorare’s total funding to $60 million, the company told Cointelegraph Thursday.
The funding round was led by Benchmark, an investment giant famous for funding companies like Twitter, Uber and Snap. Accel Partners was another lead investor, known for backing companies like Facebook and Spotify. The round also included some additional investment from investors like Reddit co-founder Alexis Ohanian, VaynerMedia CEO Gary Vaynerchuk, and Barcelona striker Antoine Griezmann.
With the new funding, Sorare is planning to continue growing its ecosystem, including launching a mobile application and onboarding the top global 20 football leagues. “We’re designing an experience where fans can celebrate, share, and live football moments at a deeper connection. We’re making fantasy football a reality,” Sorare said.
Founded in 2018, Sorare provides a digital collectibles platform based on the Ethereum blockchain. With non-fungible tokens, the platform offers a collective fantasy football experience allowing players to manage their players and earn prizes.
Gerard Piqué, strategic advisor at Sorare, explained that the platform aims to meet the significant shift to online and digital fan experiences:
“As world football has shifted from local supporters to global fanbases, football fans are looking for new ways to be connected to the game, the players and other fans.”
Blockchain and cryptocurrency startups have been actively tapping the soccer industry in order to bring new ways of fan engagement using emerging technologies. Socios and Chiliz represent some of the best-known industry efforts, jointly providing blockchain fan tokens for popular global soccer clubs like FC Barcelona, Juventus and Paris Saint-Germain. Earlier this week, Polish Legia Warsaw became the latest soccer club to join Chiliz and Socios.
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