Lition made an announcement of the partnership between Lition Technology AG and the International Association for Trusted Blockchain Applications (INATBA) for making a sincere contribution to the collaboration, adoption, and widespread employment of the advanced Blockchain technology across different sectors and industries.
Introduced in the year 2019, INATBA strives hard to bring together start-up ventures, non-profit organizations, government bodies, and large industry players under the same roof for the establishment of a regulatory structure across the EU. As a member of the EU, Lition is coming forth to collaborate with the foremost industry players for the creation of a platform for the establishment of smooth information exchange, uniformity, and congruence of the ecosystem of Blockchain technology.
The contract between Lition and INATBA is that the latter will provide Lition with an extra channel for direct communication and establish a diversified commercial network for Lition with public regulators and authorities. The member base of the partnership includes a host of different companies across a variety of industries like SAP SE, ConsenSys AG, Barclays Services Limited, Unibright, Volksbank, Siemens, NEC EUROPE LTD, Fujitsu Technology Solutions, Deutsch Telekom AG, and more.
The CEO of Lition, Dr. Richard Lohwasser, expressed his appreciation and honor in being a part of INATBA and said that together, the two companies will work hard for the promotion of Blockchain technology-driven digital services and Blockchain-based infrastructure. He also added that he looks forward to the participation at the international forum to improve the trust in, the innovation of, and adoption of the advanced Blockchain technology.
For the uninitiated, INATBA is a Blockchain-based organization whose objective is to achieve the transformational potential of Blockchain and harness the benefits of Digital Ledger Technology and Blockchain for business organizations, as well as for the society and general public. INATBA provides the users and developers of digital ledger technology with an international forum for interaction with policy makers and regulators for taking Blockchain technology to the next stage of development.
In fact, INATBA is a worldwide consortium of private and public parties for the activation of solutions powered by Blockchain technology. These solutions are for addressing the challenges faced by different industries across the globe that are cruising through the detrimental financial impact of the pandemic.
Lition is a public-private company that hosts the most pioneering Blockchain technology infrastructure with innovative features like data deletion and more. Such features will enable the commercial organizations to implement unique Blockchain technology applications in the mass-market in a GDPR-compliant manner and in adherence to international laws of data protection.
At present, both Lition and INATBA are working on the development of a powerful infrastructure driven by Blockchain technology that is compliant with the provisions of the General Data Protection Regulations.