Enterprise Ethereum Alliance may adopt a new governance model

Baozou Comment : Since the Enterprise Ethereum Alliance has always been very low-key, there is not much information about it at present. It is said that its founding members include JPMorgan Chase, Santander and Bank of New York Mellon. It is reported that the alliance intends to adopt a management model different from blockchain alliances such as R3CEV and Hyperledger. To this end, it may be technically supported by the decentralized management platform BoardRoom and adopt the EntEth technical management mechanism.

Translation: Annie_Xu

A coalition of businesses is exploring the use of blockchain-based governance technology to help its members participate in voting on various measures.

The newly formed Enterprise Ethereum Alliance is reportedly considering adopting a more distributed and autonomous management approach instead of the more traditional leadership structures used by blockchain consortiums such as R3CEV and Hyperledger.

The purpose of the Enterprise Ethereum Alliance is to build a private Ethereum system and help improve the public version of Ethereum technology.

The group, whose founding members are rumored to include JP Morgan, Santander and BNY Mellon, is considering using smart contracts to bring its decision-making processes to the Ethereum blockchain.

The distributed board member and voting platform is called the “EntEth Technical Governance Mechanism” and will be powered by decentralized management platform BoardRoom, as long as the organization agrees.

BoardRoom first debuted at the 2015 ethereum developer conference DevCon and is one of the companies formed around the ConsenSys ethereum startup.

BoardRoom is essentially a smart contract on the Ethereum network that lets individuals, companies, and other groups manage contracts for public and private Ethereum projects.

The company, founded by developer Nick Dodson and advised by ethereum co-founder Joseph Lubin, lets users jointly manage shared digital assets and perform proxy voting on board proposals.

Joe Lubin, an advisor to BoardRoom and founder of ethereum startup ConsenSys, confirmed that the alliance is currently exploring a number of possible governance structures at “different levels of the organization.”

"No final decision has been made yet."