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Enterprise Ethereum Alliance Launches



Newly formed enterprise collaboration drives Ethereum blockchain technology best practices focusing on security, privacy, scalability, and interoperability

New York, NY – February 28th, 2017 – The world’s most advanced enterprise and startup blockchain innovators have formed an alliance to build, promote, and broadly support Ethereum-based technology best practices, standards, and a reference architecture, EntEth 1.0.

The Enterprise Ethereum Alliance (EEA) seeks to augment Ethereum, enabling it to serve as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability, and security. EEA will also investigate hybrid architectures that span both permissioned and public Ethereum networks.

The founding members of the Enterprise Ethereum Alliance rotating board include Accenture, Banco Santander, BlockApps, BNY Mellon, CME Group, ConsenSys, IC3, Intel, J.P. Morgan, Microsoft, and Nuco. Additional founding members include AMIS, Andui, BBVA, brainbot technologies, BP, Chronicled, Credit Suisse, Cryptape, Fubon Financial, ING, The Institutes, Monax, String Labs, Telindus, Tendermint, Thomson Reuters, UBS, VidRoll, and Wipro, among others.

Many initial members have developed pilots and production environments using Ethereum and bring unique understandings of enterprise needs. These include supply chain provenance tracking, inter-bank payments, reference data, securities settlement, and many others. Ethereum is a blockchain-based, general purpose decentralized application platform, enabling smart contract functionality. It employs the Ethereum Virtual Machine and the Solidity programming language to directly implement and execute peer-to-peer and multiparty agreements among other applications. This technology facilitates more efficient and secure transactions without centralized intermediation.

Notably, Ethereum blockchain technology will improve banking trade settlement latency, increase transparency in supply chains, and create peer-to-peer markets where intermediaries typically were previously needed between counterparties.

“Ethereum is already one of, if not the, most widely used technologies for developing and deploying enterprise blockchains. Enterprises love the availability of open-source implementations, a single standard, the rapidly growing developer ecosystem, and availability of talent. But enterprises expect resilient secure systems and a robust controls environment. EEA aims to bring these together, both to provide enterprises the forum they need and also to advance Ethereum generally,” said Jeremy Millar, founding board member of EEA.

The EEA will collectively develop industry standards and facilitate open source collaboration with its member base as well as the Ethereum Chief Scientist and Inventor, Vitalik Buterin, and is open to any members of the Ethereum community who wish to participate. This collaborative framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos and provide insight to the future of scalability, privacy, and confidentiality of the public Ethereum permissionless network.

“The Enterprise Ethereum Alliance project can play an important role in standardizing approaches for privacy, permissioning and providing alternative consensus algorithms to improve its usability in enterprise settings, and the resources the project and its members are contributing should accelerate the advancement of the Ethereum ecosystem generally,” said Mr. Buterin, “I look forward to continuing to work with everyone involved.”


“Ethereum has one of the broadest developer user bases across industries. The Ethereum Enterprise Alliance will add power to this innovative tool and make it applicable for enterprises and corporates. It underscores Accenture’s commitment to making blockchain real for clients. We are very pleased to be part of this important initiative.”–David Treat, Managing Director, Financial Services Blockchain Lead, Accenture


“AMIS is a blockchain technology company rooted in Asia, but as its French-inspired name suggests, also connected to the world. We have been fortunate to partner with some of the most prominent enterprises and research organizations in Greater China, and through the Enterprise Ethereum Alliance, look forward to extending those partnerships globally.” –Alex Liu, CEO of AMIS


“Our team at Andui fully endorses Enterprise Ethereum Alliance’s values and goals. We set out shortly after Ethereum was launched, in July 2015, with the mission to allow individuals and enterprises alike to access platforms for equal opportunities in financial collaborations. We are focusing on the development of a value web with inter-connected and inter-operable chains, in the spirit that compatibility and standardization facilitate access.” –Bin Lu, CEO & Founder of Andui

Banco Santander

“Like many financial institutions, Santander has been actively exploring the use of distributed ledger technology and Ethereum has been one of the platforms-of-choice on which to build proof-of-concepts and prototypes. With its large developer community, 1.5 years of testing in a public environment, and multiple implementations, Santander is enthusiastic in its support of the goals of the Enterprise Ethereum Alliance and its goal of developing a single set of standards for using Ethereum in an enterprise setting.” -Julio Faura, Head of Research & Development for Innovation, Banco Santander


“It’s time for different industries to collaborate in order to take advantage of the disruption that blockchain represents. We believe that Ethereum Enterprise Alliance is key to create common standards and practices that will really help to bring the blockchain advantages to businesses process in a secure and efficient way.” –Carlos Kuchkovsky, CTO of New Digital Business at BBVA


“As the leading enterprise blockchain-as-a-service software provider, we are proud to be one of the Enterprise Ethereum Alliance founding members. We see tremendous adoption of production grade deployments for Ethereum-enabled blockchain applications. Unlike other consortiums, the Enterprise Ethereum Alliance is here to represent production enterprise interoperability requirements and ensure that software vendors, like BlockApps, deliver future proof solutions and eliminate the vendor lock-in risk to a proprietary blockchain framework.” –Victor Wong, CEO and Co-Founder of BlockApps

BNY Mellon

“The Ethereum community and technology stack holds great promise for both the public network users and within the enterprise, where there are specific requirements that we will address collaboratively through the Enterprise Ethereum Alliance.” –Alex Batlin, Global Head of Emerging Business and Technology, BNY Mellon

brainbot technologies

“At brainbot technologies, we’ve been faced with industry requirements early on when creating PoCs and advising FI’s / major companies from other industries. Consequently, we built Hydrachain, the first permissioned variant of Ethereum. We’re convinced, that second layer technologies like the Raiden Network we are developing, will play a crucial role on the path to broad industry adoption of distributed ledger technologies. Our team is enthusiastic about this initiative as well as the continued collaboration and progress and we’re looking forward to contributing to the benefit of the entire ecosystem.” -Heiko Hees, Founder & CEO, brainbot technologies


“We chose to build our Internet of Things platform solutions on Ethereum because it offered a robust and scalable smart contract infrastructure. We are excited that the EEA is emerging to lead the development of reference architectures for enterprise-grade blockchain solutions. Secure and scalable blockchain infrastructure and IoT together have the potential to herald in the fourth industrial revolution.” –Ryan Orr, Co-Founder and CEO, Chronicled


“In our enterprise consulting work we advise prospective clients to build a blockchain stack on Ethereum, because private permissioned versions of Ethereum represent the most capable, best hardened blockchain architectures for those contexts. It will grow increasingly important that enterprise builds on private infrastructure that is compatible with the public Ethereum mainnet, allowing enterprises using private, permissioned versions to eventually capture the value of the public blockchain when they develop use cases that can take advantage of the public network. The Enterprise Ethereum Alliance was designed to enable organizations to easily deploy a single standard blockchain stack and build applications on that stack for the public, permissionless blockchain as well as for private, permissioned Ethereum blockchains. The EEA may turn out to be the most important project of 2017 in the blockchain ecosystem.” –Joseph Lubin, Founder of ConsenSys, Co-Founder of Ethereum


“As a long-time supporter of Ethereum technology, Cryptape is honored to be a member of the EEA. The success of a global standard of commercial blockchain needs the participation of Chinese enterprises, and we will, as always, work with the whole community to make it come true.” –Jan Xie, Founder, Cryptape Fubon Financial

“Fubon Financial has commercialized the Ethereum blockchain protocol with its BraveLog service. Now it looks forward to collaborating with other enterprises around the world to develop innovative applications that cross industry and geographic boundaries in a compliant and secure fashion. As a leading financial services firm in Greater China, we are proud to contribute to the Enterprise Ethereum Alliance.” –Lee Hsangchen, VP Digital Innovation, Fubon Financial


“The Initiative for CryptoCurrencies and Contracts (IC3) is advancing solutions to meet the needs of permissioned blockchains such as ensuring complete user confidentiality with the capability to audit accounts and transactions. We look forward to continuing our collaborations with the Enterprise Ethereum Alliance membership and supporting the needs of the financial community.” –Prof. Ari Juels, Prof. Elaine Shi, Prof. Emin Gun Sirer, Prof. Andrew Miller, Dr. Ittay Eyal, IC3


“For ING, leading edge technology is the key to developing innovative solutions for our customers and the Enterprise Ethereum Alliance is a perfect example of how we play at the forefront of these developments. Ethereum is an extremely powerful multi-purpose blockchain and we’re proud to partner with the Enterprise Ethereum Alliance to leverage this computing platform to seek efficient and secure propositions for our clients.” -Mariana Gomez de la Villa, Senior Program Manager Blockchain at ING

The Institutes

“The Institutes, as a non-profit dedicated to serving the risk management and insurance industry, is working to bring the insurance industry together in a blockchain consortium. The Ethereum Virtual Machine and associated smart contracts have the potential to magnify our industry’s ability to effectively protect and help its diverse client base. The Institutes is excited to be a founding member of the Enterprise Ethereum Alliance and assist in efforts to propel this vision.” –Peter L. Miller, CPCU, President and CEO of The Institutes

J.P. Morgan

“J.P. Morgan is an active supporter of both emerging technologies and open source projects. We look forward to continuing to advance the state-of-the-art in blockchain technology with the diverse expertise and collaborative energy of the Enterprise Ethereum Alliance.” –Lori Beer, Chief Information Officer, J.P. Morgan Corporate and Investment Bank


“At Microsoft, we are proud to be a founding member and board member of the Enterprise Ethereum Alliance to continue the advancement of enterprise grade blockchain platforms. Participating with the Ethereum community to implement open standards will accelerate deployment of blockchain solutions. In addition, Microsoft Azure’s open, global scale cloud infrastructure and platform services provide fertile ground for the evolution of Ethereum into the enterprise.” –Marley Gray, Principal Architect, Azure Blockchain Engineering at Microsoft


“Monax’s Ethereum Virtual Machine implementation was the world’s first EVM with permissioning. It is currently in use at many of the world’s best companies, including global tier 1 banks, Deloitte, and SWIFT. We are very pleased to be joining the Enterprise Ethereum Alliance as a founding member, look forward to contributing our knowledge and expertise, and will ensure that our EVM continues to meet or exceed the requirements of the Enterprise Ethereum specification as it evolves.” -Preston Byrne, COO, Monax


“Nuco has been a leading company in developing enterprise infrastructure functionalities into the Ethereum protocol, with a focus on security, scalability, and performance. Our work to date includes developing a new consensus algorithm and a high performance API within our modular framework. We’re committed to actively contributing to and shaping these evolving standards, and we’re extremely proud to be a Founding Member of this important initiative.” -Matthew Spoke, CEO, Nuco

String Labs

“String Labs is hugely excited by the Enterprise Ethereum Alliance and the support it can provide to organizations using the world’s best blockchain technology.” –Dominic Williams, President/CTO, String Labs


“Blockchain tech is getting rapid enterprise adoption. The flexibility of Ethereum make it the leading contender for smart contract applications. We are excited to work with Enterprise Ethereum to bring Tendermint consensus to Ethereum-based applications ensuring the security and speed required.” –Brian Crain, COO, Tendermint

Thomson Reuters “Thomson Reuters has been an early innovator alongside our customers, startups, and industry organizations to accelerate the enterprise adoption of blockchain to realize its transformative potential across industries. We are excited to join forces again with our customers and the industry on Enterprise Ethereum.” –Joyce Shen, Global Director of Emerging Tech & Investments, Thomson Reuters


“UBS has actively used Ethereum to explore the potential of blockchain technology for the past two years. We are enthusiastic that the Enterprise Ethereum Alliance provides a platform to collaborate on the development of open standards, features, and architectures required for industry-wide adoption of the technology.” -Peter Stephens, Global Blockchain Lead and Head of UK Group Innovation, UBS


“Wipro is excited to be part of the founding team of the Enterprise Ethereum Alliance and contribute towards key aspects around security, privacy, and scalability as these will be key determinants in the pace of blockchain adoption within enterprises. The Enterprise Ethereum Alliance is a great way to accelerate enterprise adoption and is increasingly one of the technologies used by our clients for developing and deploying enterprise blockchains. The Enterprise Ethereum Alliance is a critical platform that allows developers to collaborate with the growing community of blockchain developers. We look forward to working actively on this project to shape blockchain adoption within enterprises.” –Krishnakumar N Menon, Vice President, Service Transformation, Wipro Limited

For all inquiries, please contact: [email protected]


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Bitcoin price prediction: Bearish overtones cloud BTC/USD pair as $9,700 support beckons

Bitcoin price downside is restricted to $9,700 as BTC/USD tumbles towards crucial support. Bitcoin and gold realized correlation hit 12-month high on Monday. DeFi decline is making traders cautious and Is behind today’s Bitcoin price correction. An abrupt fall below $9,700 will fill the crucial CME gap at $9,600 and provide a cushion. Bitcoin price […]



  • Bitcoin price downside is restricted to $9,700 as BTC/USD tumbles towards crucial support.
  • Bitcoin and gold realized correlation hit 12-month high on Monday.
  • DeFi decline is making traders cautious and Is behind today’s Bitcoin price correction.
  • An abrupt fall below $9,700 will fill the crucial CME gap at $9,600 and provide a cushion.

Bitcoin price prediction – Current price overview

Bitcoin price started the day at $10,492 to immediately move upwards and touch a high of $10,573 only to be rejected. The profit booking turned severe in the next few hours as the pair broke below $10,300 to touch day’s low of $10,062 and threatened to break the psychological $10K barrier.

Bulls came into few hours later to buy small dips on the hourly chart. Subsequently, the BTC/USD price once again moved past the $10,500 level. But this time, the rejection was even more violent, and the crypto king immediately rolled towards $10,138 low. Currently, the price has recovered slightly to trade around $10,225 level.

There’s a bearish overtone to the Bitcoin price prediction as BTC/USD struggles to hold vital support levels. In case the crypto king slips below the $10,000 level, the next big support at $9,700 will serve as an even stronger cushion.

Bears have dominated Bitcoin price in the last 6 hours

Bitcoin price met severe resistance at $11,200 and quickly tumbled down. During the fall, the BTC/USD pair first found support at $10,800 only to find the ground slippery. Attempts to bounce back were again met with rejections, and the price moved below the crucial $10,300 mark to touch new daily lows.

Bitcoin price prediction: Bearish overtones cloud BTC/USD pair as $9,700 support beckons 1
Bitcoin price chart by TradingView

The bulls clearly look exhausted and are finding it difficult to penetrate through the resistance ceiling above at $11,000. Bearish positions are piling up as Bitcoin price moves to touch even lower support at $9,700.

BTC/USD 2-hour chart is filled with red candlesticks

Bitcoin price has now entered bearish territory on the hourly charts since it has broken below key support at $10,500. The pair has not been able to move past the SMA20 curve currently situated at $10,480. However, the rising volatility can cause an imminent breakout provided the volume rises around the 20-day Bollinger Band.

As trader Alan Masters points in below chart that if the price closes the day under 100-day exponential moving average, new lows will be in sight. The pair can even slide towards $9,200.

Bitcoin price prediction: Bearish overtones cloud BTC/USD pair as $9,700 support beckons 2
Bitcoin price chart by TradingView

The MACD is showing a bearish signal as the market momentum shifts downwards. The RSI is slowly inching towards the oversold territory. Even though the hourly charts are sounding a death knell for the bulls. The psychological support at $10,000 can serve as a bounce-back price point.

So, how much decline is in store for Bitcoin price?

The daily Fibonacci patterns observed at 38.2 percent and 23.6 percent, along with the Bollinger Band curve, are painting a neutral picture with a downward bias. The price has been summarily rejected from crucial resistance at $12,000. Moreover, the Bitcoin price is now trading below the $10,500 support mark.

The pair will touch oversold territory on the hourly charts at $9,700, and it will likely witness as a strong to moderate buying action. Interestingly, it is also the weekly Fibonacci 161.8 percent retracement mark.

‘Buy the Dip’ signal from Spent Output Profit Ratio (SOPR) indicator

Glassnode’s Spent Output Profit Ratio is a leading on-chain data-based indicator. On-chain metrics can deliver insights on better predicting the market. Glassnode says that its SOPR indicator is hinting towards a buy signal as per the current Bitcoin ecosystem.

As per Glassnode, the SOPR index reflects the average stakeholder’s profit or loss scenario. It is calculated as the ratio of realized value output spent to the creation value. It shows the progress of stakeholder’s profit sales on an average. In case the SOPR value is more than one, it shows that price at which coins are being sold is more than what was paid for buying and vice versa.

Presently, the SOPR index is signalling a ‘buy the dip’ light to the traders. Philip Swift of Decentralized says that SOPR is shifting under one level, and it is the perfect time to buy the BTC/USD pair. Considering the current decline, traders will have to study other factors before putting their money on the bull case.

Bitcoin price prediction: Profit booking imminent before the leg next down

Bitcoin price has sharply declined from the $10,415 support line and now entered the bearish territory. Today marks the third straight day of bearish activity, and SMA 20 curve offers stiff resistance to any upward movement. Squeezes in Bollinger Bands on hourly charts show that volatility is extremely low. However, squeezes are usually indicative of a massive upcoming price movement. Technically, the longer the period of a squeeze, the more prominent will be the price breakout.

As of now, the price will move horizontally on the daily chart with a bearish trend on the hourly timeframe. So, as of now, it looks like the price will trend horizontally as BTC enters a period of consolidation.

Disclaimer: The information provided is not a trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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MakerDAO Users Hosed by March Flash Crash Won’t Get MKR Payouts, Say MKR Whales



MakerDAO will not compensate victims of March 12’s “Black Thursday” flash crash that left some of the decentralized finance (DeFi) platform’s investors out $8.33 million, according to a vote that closed Tuesday. The Maker community had initially voted in early April to refund sunken investors. 

Nearly six months later and the community – represented by current holders of Maker’s MKR governance tokens – concluded a final vote to give zero compensation for lost funds. Some 65% of votes opted for zero compensation, with the next two options for partial compensation receiving 18% and 15%, respectively.

The vote itself was dominated by large MKR holders. Only 38 unique votes were cast, equivalent to 8.74% of MKR token holders, with the low turnout reflecting some of the current difficulties associated with governance in the booming DeFi sector.

Stepping back, many Maker users had collateral positions for outstanding loans liquidated after a sudden, mid-March crash in the price of ether (ETH). Additionally, investors were unable to maintain positions because of a backlog of transactions on the Ethereum blockchain as investors sought to flee the COVID-driven market collapse.

The one-two punch was preyed upon by market making bots that exploited the flaw to the tune of 2.4 million ETH. Broken logic in the platform’s collateral liquidation engine could be exploited under the right conditions to gobble up collateral on the cheap.

Investors have since lobbied the community for partial compensation denominated in the platform’s MKR governance token. All options included in Tuesday’s vote included MKR as the compensation vehicle. (Early on, affected investors had pushed for ETH.)

Yet, participating MKR holders were incentivized to vote against the compensation as any additional printing of MKR tokens would dilute the value of their holdings. Many community members said as much in the MakerDAO forum. 

Litigation against the Maker Foundation in the form of a class-action lawsuit continues regardless of the vote’s outcome, said Adam S. Heder, the Harris Berne Christensen LLP attorney representing MakerDAO’s Black Thursday investors.

Lead plaintiff Pete Johnson filed three counts against the Maker Foundation in April including negligence, intentional misrepresentation and negligent misrepresentation. He and joining members of the suit are seeking up to $28.35 million in compensation.

“The parties have submitted briefing on the Maker Defendants’ motion to compel arbitration. We don’t know yet when the Court will issue its ruling,” Heder said via email.

The Maker Foundation declined to comment.


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Kraken releases new security updates to combat phishing attacks



Crypto exchange Kraken’s Chief Security Officer, Nick Percoco, announced the release of four new security enhancements, on the Kraken platform that will be made available to all the exchange’s customers from today. Percoco further detailed the security updates in four different features named: Security Shield, Security Checkup, Device Approvals, and Device Management, with each step having its own purpose.

While Security Shield would indicate the security state of users’ accounts, Security Checkup step would make the process of securing accounts easier for users. Meanwhile, the roll-out of the Device Approvals feature would combat phishing attacks in particular. The feature would alert users if the system detects an attempt to sign in from an unrecognized device. The exchange believed that such device-approval mechanisms would mitigate 60% of phishing attacks.

In addition to this, the security releases would also update Kraken’s Security Center that includes Session & Device management. According to the Chief Security Office, Device Management would be the next step that would follow the approval of a device. This would allow users to see and manage their devices as well as users’ signed-in sessions. Percoco also said that users will be able to see all their active sessions and approved devices, something that can be revoked entirely or in any combination of these.

Kraken is said to have a large number of new security enhancements on its roadmap that will be rolled out throughout this year and continue until 2021. The Chief Security Officer revealed that these future releases would address authentication enhancements, more activity logging, and alternative methods for receiving critical notifications. However, the announcement did not mention if these security enhancements were due to any current increase in phishing attacks or whether its users had lost funds.


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