The Enterprise Ethereum Alliance (EEA) was created in late February 2017 with the aim to connect Fortune 500 companies with Ethereum experts. And since then, the Ether price skyrocket from just 13 USD, to over 344 USD at the time I’m writing this post. So the formation of this Alliance has definitely benefited Ether… But why?
Okay, first things first. What exactly is the EEA?
The EEA is an alliance with over 120 members that pretends to help large companies to transition to the new blockchain era with the help of Ethereum. The list of its launch members includes corporations like Microsoft, ING, JP Morgan, Intel and Credit Suisse.
Awesome. Let’s now dive into how Ether benefits from the Enterprise Ethereum Alliance.
In contrary to many other cryptocurrencies, Ethereum has the support of some of the largest companies in the world. This adds legitimacy to the project in the eyes of investors.
This is by far the factor that benefits Ether the most.
“Wow this Ether thing looks cool! Dunno if I should invest in it though.”
2 hours later…
“Damn, Microsoft and JP Morgan use Ethereum. Looks legit.” (BUY)
The formation of the Enterprise Ethereum Alliance has spiked public interest in Ether. This has resulted in a massive bull run that has started in late February after the Alliance was announced.
The Ethereum Foundation holds around 750.000 ETH. It uses these funds to pay Ethereum core developers and other supporters of the foundation. The fact that the Ether price has EXPLODED in the past weeks has tremendously increased the worth of its stake. At the time I’m writing this, it is worth 260 Million USD. This increase allows the foundation to hire even more developers that will accelerate considerably the process of making Ethereum a “perfect” technology.
Highly talented developers from companies like Microsoft, BBVA, and JP Morgan are actively working together with Ethereum core developers.
This is sharing of know-how is something that other cryptocurrencies like Bitcoin did not have in their early days. And it will benefit the Ether price immensely.
The fact that know-how is shared among so many developers lays the foundation for a strong Ethereum community. And it is thanks to that community that bugs are found on time, hacks are stopped (or prevented), and that Ethereum will be ready soon for mass adoption.
That’s all for today!
Please let me know in the comment section below if you think there are any more benefits I should add.
And as always,