Platform-Neutral Organization Empowers Businesses to Standardize the Interchange of Tokenized Value Across Use Cases and Networks
The InterWork Alliance (IWA) formally launched operations as a platform-neutral, non-profit organization dedicated to creating the standards frameworks needed to increase innovation across token-enabled ecosystems. Distributed applications have the potential to disrupt global economics, but the wide-scale availability of different platform types has stalled web-scale adoption of tokenized assets. What is required is standardization at the business level, which would allow companies to be able to agree on distributed business models without choosing a platform first. The InterWork Alliance will set the standards for building distributed applications, including appropriate frameworks for tokenizing items of value, writing contracts over those tokens, and privacy-preserving analytics of multi-party data.
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“Given today’s realities, businesses have an ever-increasing need to engage in token creation. Endeavors that provide platform-independent opportunities for businesses to focus on how to define the token models and contracts they need, like the InterWork Alliance does, are both timely and important”
- RSVP to the webinar “Intro to the InterWork Alliance – Accelerating the Token Economy,” hosted by Chair Marley Gray, June 22 at 11:30 a.m. Eastern.
- Learn more about how the InterWork Alliance is simplifying token-powered digital interchange
Launch members include Accenture, Amberdata, Blockchain Technology Partners, Calastone, Chainlink, DEKRA, Digital Asset, DLA Piper, The Depository Trust & Clearing Corporation (DTCC), Envision Blockchain, HACERA, Hedera Hashgraph, IBM, ING, Microsoft, Nasdaq, Neo Global Development, R3, SIX Digital Exchange (SDX), Tokensoft, UBS, Web3 Labs, and others. Launch Associate members joining to support the IWA’s activities include 2Tokens, Blockchain Research Institute, British Blockchain Association (BBA), Cloud Security Alliance, DID Alliance, Global Blockchain Business Council (GBBC), Global Digital Finance (GDF), Hyderabad Blockchain District, Hyperledger, International Token Standardization Association (ITSA), Washington Technology Industry Association (WTIA) Cascadia Blockchain Council and others. We invite all organizations interested in advancing the token-powered economy to join the Alliance.
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“Companies want to be able to create token-based business models without having a platform technology in mind. For this approach to work, standards are urgently needed around defining what a token is and how its contractual behaviors will work,” said InterWork Alliance President Ron Resnick. “The Alliance was created to serve as the organization where this essential work happens. By bringing great technology and innovative business leaders together to deliver the market-driven specifications needed to facilitate interworking, the Alliance can deliver a proven, standard approach that is required to bring consumer trust into this space.”
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