Microsoft, IBM, Hyperledger and other technology and financial organizations have formed an alliance to develop global standards for tokenized ecosystems.
Microsoft’s principal architect Marley Gray and Enterprise Ethereum Alliance’s former director Ron Resnick today launched the InterWork Alliance (IWA), a non-profit organization aimed at bringing global standards for the token-based ecosystem.
At launch, the IWA has more than 28 blockchain, technology, and financial organizations from around the world, including Microsoft, Chainlink, Hyperledger, IBM, Nasdaq, Accenture, and others.
The IWA indicates that startups presently working on tokenized ecosystems are mostly focusing on their individual solutions and marketing their platforms to other businesses.
Setting global standards, its says, will help focus this wide-scale innovation to make a collective impact on businesses.