The Enterprise Ethereum Alliance (EEA) blockchain consortium launched a project with Microsoft to help businesses develop and create tokens to solve specific problems.
The EEA intends to act as a platform for the Token Taxonomy Initiative, which involves the Hyperledger, R3 and Digital Asset Holdings consortia. At the same time, IBM and Intel, JP Morgan financial holding, ConsenSys blockchain start-up and many others will participate in the project.
According to Ron Reznick, Director General of the EEA, various seminars will be available to specialists as well as the GitHub repository as part of the initiative. Already existing tokens on different blockchains will be tested, and then reduced to a single standard.
Microsoft Chief Architect Marley Gray noted that during his work with the Microsoft Azure cloud platform and EEA, he often encountered various industry consortia that spent a lot of time trying to understand “how best tokenize, for example, a barrel of oil”.
Thus, as part of the initiative, it is planned to create a token constructor so that any person, even without being a technical specialist, can explain to developers what he wants from an asset.
Last year, EEA and another leading blockchain consortium Hyperledger announced a partnership that provides for the creation of uniform standards for corporate distributed networks developed by the participants of these two organizations.