InterWork Alliance members include IBM, Nasdaq and big names

InterWork Alliance members include IBM Nasdaq and big names

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The InterWork Alliance (IWA) on Tuesday launched its operations formally as a non-profit, platform-neutral organization that aims to create the standards framework required to increase the innovation in the entire token-powered ecosystems.

The InterWork Alliance organization has already 36 members including tech companies: IBM, NASDAQ, Accenture, Microsoft; banking and exchange firms ING, UBS, SDX, and blockchain firms: Neo Global Development, Digital Asset, R3, and Hedera Hashgraphy.

The President of InterWork Alliance, Ron Resnick expressed that companies want to be enabled in order to create a token-based business model without the need to have a platform technology.

In order to work out, these approach standards are readily required around defining what a token is and how its contractual behavior does would work.

Marley Gray, the Chairman of InterWork Alliance who is the Principal Architect for Microsoft in his blog post stated that this modern concept of the tokenized value is not something new rather it originated from the blockchain space and is often linked with cryptocurrency because of the early Bitcoin and Ethereum blockchain networks.

However, it is quite clear that tokens need not be tied with blockchains, and blockchains are just the initial step towards a larger and ambitious approach towards the working of organizations together.

InterWork Alliance Launch members:

The list of salient InterWork Alliance members includes but is not limited to:

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Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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