Enterprise-Focused Ethereum Standards Consortium EEA to Form ‘Token Task Force’

The Enterprise Ethereum Alliance (EEA), global blockchain community with over 500 members, will launch a “token task force” in 2019, EEA confirmed to Cointelegraph in correspondence on Feb. 13.

The executive director of the EEA, Ron Resnick, said that the task force is still at the design stage and is scheduled to launch in the first half of this year.

“We are creating a token task force; we will do that first half of this year,” Resnick stated, adding:

“It’s going to be focused on support for fungible ERC-20 and non-fungible, ERC-721 tokens.”

Resnick hopes that the new initiative will contribute to entreprise tokenization and build public confidence in crypto. Moreover, the group will reportedly focus on the issue of interoperability between different blockchains.

The EEA, according to its website, is a organization focused on creating standards to help enterprises adopt Ethereum-based blockchain technology.

Today, Feb. 14, the EEA announced that it is opening a new branch in China, as Cointelegraph reported. Weijia Zhang, vice president of engineering at blockchain interoperability startup Wanchain, has been appointed as the new office’s director.

In October 2018, the EEA partnered with another major blockchain community, Hyperledger, the open-source blockchain platform from the Linux Foundation. The two consortiums joined each other’s organizations as “Associate Members” in order to support enterprise blockchain adoption.

As Cointelegraph previously reported, major industry players believe that tokenized assets will be the main trend in crypto industry in the coming years. For instance, Tyler and Cameron Winklevoss, Bitcoin bulls and founders of the crypto trading platform Gemini, believe that the initial coin offering (ICO) “crazy town” of 2017 is now over and that tokenized assets are coming to the fore.