May 22nd 2017
Smart Contract, Inc. is one of the first Japanese companies, joining “Enterprise Ethereum Alliance”. Additionally the company the company has became the Official Japanese Office.
Six Japanese companies, such as The Bank of Tokyo-Mitsubishi UFJ, Ltd., Toyota Research Institute, Inc. among others, joined the aforementioned alliance along with new 86 companies.
Smart Contract, Inc. (HeadQuarter: Minato-ku, Tokyo, CEO: Kazuki Obata, hereinafter called SCJ) pleasantly inform that we joined Enterprise Ethereum Alliance (hereinafter called EEA). In addition, we assumed the role of the Main Official Japanese Office.
EEA has announced new international companies to be joined on May 22nd, as well as 6 Japanese companies including SCJ, Tokyo-Mitsubishi UFJ, Ltd., Toyota Research Institute, Inc, Couger Inc. and others.These companies are the first Japanese corporations to join EEA.
EEA Company Member
■ What is Ethereum?
・Ethereum was established in 2015, and is one kind of Blockchain technology and the open source platform to construct (build) the decentralized applications.
It has been developed as a Decentralized Application, with the “Smart Contract (automatic agreement and automatic enforcement of the contracts)“ concept in mind. While Bitcoin, which is take the position as the digital money which automatically move with P2P (Peer to Peer) technology.
■ Background of EEA establishment and Summary.
The most expanded field is the public filed among the businesses relating to Blockchain technology.
Among them, Ethereum toward to the Public Blockchain (Permissionless type), which allow to any participant/s to validate the trades without the centralized administrator. It is updating in the puclich filed.
While, Permissioned type of Blockchain technology, which put the administrator limitedly, has been desired by Financial institutions and companies, which always necessary the private and permission-able system for the security and the confidential information management.
There are R3 or Hyperledger, those are the Consortium type Researching Blockchain technology projects, which set the trading authorizer, however they were only created for the trading purpose in the financial field.
Giving the interchangeability between Blockchain technology and Consortium type Private-chain, lead the current problems to the solution without any limitation of the institutions and companies in any field.
With the background mentioned above, in February, Ethereum announced the establishment of “Enterprise Ethereum Alliance” that is for formulating the standard specifications of Ethereum, which match with the institutions needs and for apply-able to the trades among the companies. The established members are about 30 companies, JPMorgan Chase & Co., UBS, Credit Suisse Group, Banco Bilbao Vizcaya Argentaria S.A., Microsoft Corp, Accenture PLC, BP p.l.c. and others.
The system has drawn to realize the best practicing and the standard specifications of Ethereum based technology, and construction and promotion of reference architecture EntEth 1.0, as well as the support for them.
The researching development of EEA consider importance in privacy, confidentiality, scalability, and security. Additionally, EEA will search the hybrid architecture for both of the public Ethereum network and the private applications, those are for specific institutions and companies.
Name: Enterprise Ethereum Alliance
Establishment announcement month: February 2017
Official website: https://entethalliance.org/
■ Future Roles of SCJ in EEA
SCJ have been appointed as Official Japanese Office by EEA, will take the promotion activities of the working groups, the promotions for the companies and office works.
Based on this announcement, SCJ aim to contribute more expanding of Ethereum Blockchain technology with creating new businesses, supporting demonstration experiments, broadcasting (official media).
■ About Smart Contract, Inc.
Smart Contract, Inc work consulting and incubating (investment and marketing) according to Ethereum Blockchain technology and Dapps, with the mission “For All Ethereum Blockchain technology Infrastructure”.
■ Smart Contract, Inc.
CEO: Kazuki Obata
Address: 7-7-7, Tri-Seven Roppongi 8F, Roppongi, Minato-ku, Tokyo, 106-0032, Japan
Established: January 13th, 2016
BusinessDevelopment of electronic wallet system and provision of applied services / Development of funds settlement and transfer system / Development of foreign exchange system and provision of applied services / Research and development of Distributed agreement formation algorithm, and providing applied services / All business related to the preceding items / Consulting business
Capital: 30 million Japanese yen (May 2017)
Smart Contract, Inc.