Wall Street Blockchain Alliance Creates Group to Accelerate Blockchain Development and Implementation

Wall Street Blockchain Alliance Creates Group to Accelerate Blockchain Development and Implementation

The Wall Street Blockchain Alliance (WSBA), a non-profit association promoting the adoption of blockchain in markets around the world, has created the Enterprise Solutions Working Group (EWG) to fast track “blockchain-related policy development and issues around implementing blockchain at the enterprise level.”

Andrea Tinianow, the chief innovation officer and executive vice president of Global Kompass Strategies, will be heading the newly formed organization. She formed the Delaware Blockchain Initiative, which promotes the enactment of legislation friendly to blockchain and the deployment of blockchain technology in state government. The EWG is the recent body formed by the WSBA in addition to the Cryptoassets, Legal, Accounting, and Product & Technology Working Groups.

Blockchain adoption has been slow in the accounting sector due to how unregulated it is. But when the technology becomes well regulated by the government, it could speed up its adoption among accountants. This is a major reason why this particular move is significant for the accounting sector.

December will see the official launch of the EWG. The body will be expected to meet biweekly to “discuss policy issues as well as the practical challenges and implications of crafting and implementing blockchain-enabled applications at the enterprise level.”

Speaking further on the duties of the EWG, the WSBA stated that “[r]eal life examples will be explored with strict attention paid to lessons learned and takeaways that can be shared within the group and organization as a whole.” Governance, technical aspects of implementation, business models, technology alternatives, and obtaining support from stakeholders are some of the issues that will be considered.

Tinianow also made her thoughts known: “The WSBA is an outstanding resource for advisors, practitioners, and developers in the blockchain space. I am excited and privileged to lead this important group into what promises to be a critical year for blockchain technology adoption within financial services.”

She further stated that “[t]he EWG will be a forum for members to share experiences, exchange ideas and collaborate on related projects in support of the successful implementation of blockchain technology at the enterprise level.”

On his own part, Ron Quaranta, the WSBA chairman added that “the EWG ties together the groundbreaking work that the organization is already undertaking with practical, tangible and actionable insights that our members can use to make blockchain real within their organization.”

In conclusion

The Wall Street Blockchain Alliance has formed a body to hasten the development of blockchain-related policy and issues around blockchain implementation at the enterprise level. This body will be known as the Enterprise Solutions Working Group.

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