Unlike some other collaborative efforts, members do not need to pay a fee to participate in the EEA, for now. Ethereum, a type of blockchain that can be used to develop decentralised applications, was invented by 23-year-old programer Vitalik Buterin. Several banks have already adapted Ethereum to develop and test blockchain trading applications. "There is a lot more synergy in thinking than was ever possible before," Batlin said. The EEA will collaborate with the non-profit foundation that promotes the development of Ethereum, the companies said.

Source: India Today February 28, 2017 06:35 UTC