UnionBank was the first local bank in the Philippines so far who announced their official membership for Enterprise Ethereum Alliance. According to Mr. Arvie de Vera in his Facebook post, a successful meeting was conducted yesterday with Ethereum co-founder Joe Lubin and his team discussing the EEA membership of UBP.

Composed of forward-looking enterprises and blockchain innovators, Enterprise Ethereum Alliance is an industry-supported, non-profit established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open source reference architectures. EEA was recently hailed as officially the largest open-source blockchain alliance in the world thanks to the latest additions, MasterCard, Cisco and 34 more new members. Currently there are over 150 known members of the EEA with heavy hitters such as Microsoft, J.P. Morgan, the Indian government, Scotiabank, ING, Intel and others leading the pack.

“EEA’s rapid growth in membership mirrors the accelerating acceptance and deployment of Ethereum blockchain solutions in the global marketplace,” said Julio Faura, chairman of the board, EEA. “The technological breadth, depth and variety of organizations coming together under the auspices of EEA to create and drive enterprise Ethereum standards bodes well for the future development of the next-generation Ethereum ecosystem.”

With this good news, we are hoping that other Philippine local banks will follow the path which UnionBank have started. Blockchain technology should never be considered a threat by banking institutions but a tool for a better future.

EEA membership is open to any individual or organization. NGOs, Academic Institutions, Non Profits, Governments & Regulatory Agencies can join without any fees. Visit EEA website for more information.

(Featured image by Mr. Arvie de Vera)

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