Unveiled at one of the most anticipated and prestigious blockchain conferences; Devcon 5, the Enterprise Ethereum Alliance’s (EEA)Trusted Compute Working Group demonstrated how EEA standards are contributing to drive the token-based blockchain economy.
Envision Blockchain, in collaboration with Microsoft, Intel, Consensys, Kaleido, and iExec worked on the EEA Trusted Token, the world’s first reward token powered by EEA standards. The project is said to be the, “single largest enterprise collaboration in the history of the blockchain space.” – Andreas Freund, PhD, Blockchain Swiss Army Knife @ConsenSys. The use case described in the project incorporates a framework for accruing and calculating rewards for active participation within a consortium. There are three types of tokens being leveraged to incentivize participation:
- Reward Tokens
- Penalty Tokens
- Reputation Tokens
In discussing the project, Ian Allison, a reporter for Coindesk writes, “The trusted reward token is the first use case to emerge from the Token Taxonomy Initiative (TTI), born within Microsoft to establish a common framework for tokenizing value across a range of blockchain networks, not just within the EEA or on ethereum.”
About Envision Blockchain Solutions
Envision Blockchain Solutions is a Blockchain Ledger Agnostic Systems Integrator. Our mission is to reshape and align today’s Enterprise systems allowing organizations to recognize the new value in tomorrow’s Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Blockchain and Business Transformation Processes within Emerging Technologies. We focus on guiding organizations through 3 major milestones on their Blockchain journey: Use Case Analysis, Proof of Concept Development and Enterprise Scaled Deployments.