Reward Token system from Enterprise Ethereum Alliance, supported by Microsoft, Intel


Microsoft and Intel assist a brand new system of reward tokens made by the Enterprise Ethereum Alliance (EEA).

EER creates a brand new reward token system

The EMA, which units requirements for Ethereum-based blockchain purposes in enterprise, shared the developments in a press release with Cointelegraph on 7 October.

The group stated it has created a brand new system of reward tokens that’s supported by each software program giants.

The EER is a blockchain consortium with greater than 450 enterprise members reminiscent of Microsoft, JP Morgan Chase, Santander, Accenture, ING, Intel and Cisco. The brand new token is meant to encourage and reward firms that actively take part in a consortium.

Intel & # 39; s blockchain program supervisor Michael Reed told Add Coindesk that there are three sorts of tokens – a reward token, a repute token and a penalty token -:

“It could actually be utilized to any consortium to encourage teamwork. The instance we use is a software program growth consortium reminiscent of EEA, the place we attempt to encourage actions reminiscent of modifying and contributing to specs, creating and including code. Then in fact you can too impose fines for denials, reminiscent of lack of contribution, lack of evaluation, lacking deadlines, and so forth. "

Cointelegraph has earlier reported about utilizing tokens to align companies and people and reward them for his or her efforts. The Austrian capital Vienna would develop a blockchain-based token in early 2019 as a part of a neighborhood incentive program.

The so-called Viennese token can be awarded in change for offering suggestions in regards to the metropolis, in an software designed to pay for parking or to reward residents for biking. The tokens can later be exchanged for one thing beneficial, reminiscent of theater tickets.

The use instances for telecommunications printed by the EEA

In August, the EEA published a set of use instances for blockchain expertise in telecommunications.

The checklist supplied details about how blockchain expertise may streamline enterprise transactions and inner actions within the telecommunications trade.

Utilization situations embody blockchain-based telecom name roaming person authentication, blockchain-based telecom name roaming reconciliation and knowledge privateness and monetization.

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