on the crypto
Enterprise Ethereum Alliance (EEA), the commercial branch of the second largest blockchain, has appointed a new executive director, Daniel C. Burnett. The intention of the new director is to make the most of the exchange and DeFi potential. Burnett's appointment seems to come at the most propitious moment.
Beyond banks and stocks
Burnett, who previously worked as a standards architect for Ethereum-based ConsenSys, wants to extend the scope of EEA beyond banks and blue chip stocks to include exchanges. Burnett also aims to embrace the brave new world of decentralized finance (DeFi), which has proven to be one of the main use cases of Ethereum.
"We should see exchanges as members, we should see tool vendors as members," Burnett said in an interview. “We could put something in the API that they have to use to trade. If you have a business and if the existence of Ethereum is important for that business, then you should be in the EEA. "
The right choice at the right time
It's a good time for Burnett's arrival, as Ethereum's public mainnet turns five at the end of this month and the EEA is planning a half-day seminar where its operational base of over one hundred members will deepen plans company future.
Ron Resnick, the outgoing EEA leader, is leaving the group to focus on the InterWork Alliance token initiative. The new EEA projects were also inspired by John Whelan, president of the EEA board and head of the digital investment sector at Banco Santander.
"It is a good time to expand the space for all those companies that use Ethereum technology in all its various facets, whether large companies get a private permit, or that other companies are starting to emerge thanks to DeFi," said Whelan in an interview.
More DeFi growth
With $ 2 billion of crypto resources earmarked for DeFi, the EEA could perhaps play a role in educating the traditional financial world about possible opportunities, added Whelan. "At some point [the DeFi companies] will enter the realm of traditional finance, and it could also be that regulators would like to have a single point of contact in the business community and we could imagine that the EEA is becoming that type of role as well" , said Whelan.
When asked about the type of standards that could be applied to DeFi's Wild West world in the future, Burnett, a director of the IEEE Industry Standards and Technology Organization, said he did not want to speculate. “Personally, I think it's not my place. It is not always obvious what is useful as a standard and what is not appropriate, "he said.
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