Ethereum wants to be the OpenStack of enterprise blockchain
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Ethereum wants to be the OpenStack of enterprise blockchain

Blockchain is still in its early days, yet in some ways, it is starting to mirror the beginnings of cloud computing. Not because of the technology itself, but because of the way it is being received. At the moment it still causes a lot of confusion, there is interest from all sides – although the initial swing is towards business – and many companies are getting in on the act. Yet security still creates concern and, of course, there is a lot of debate around the merits of the public, private and hybrid varieties.

This week however, may have seen blockchain inch a step closer towards the mainstream. On Tuesday, at a launch event in NYC, tech giants, big banks and blockchain startups – including J.P. Morgan Chase, Microsoft, Banco Santander and Intel – gathered together for the launch of the Enterprise Ethereum Alliance. This aims to build, promote and support Ethereum-based technology for the enterprise.

“The Enterprise Ethereum Alliance is a not-for-profit alliance which builds and promotes the use of distributed ledgers, such as blockchain, between companies using the open source technology called Ethereum. The platform is decentralised and enables contracts to be made between peers, and aims to create value through its range of members,” explains Omar Mohamed, operations and financial marker analyst at Imperial FX. 

“The launch of the Enterprise Ethereum Alliance is yet another sign that blockchain is finally hitting the mainstream,” Joe Pindar, director of product strategy and CTO at Gemalto, tells IDG Connect.  “As larger companies turn their attention to blockchain, it will inevitably gain credibility in the eyes of smaller enterprises, helping increase the speed of the technology being adopted. The more businesses that embrace blockchain, the sooner the industry move towards standardising best practices to help meet growing demand.”

This sort of high profile open source alliance could become for blockchain what OpenStack is for cloud computing. And while it may not seem especially important at the moment it could become a lot more relevant as blockchain gradually takes hold.

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Kathryn Cave

Editor at IDG Connect

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