Today, the Enterprise Ethereum Alliance (EEA) revealed its token-based reward system for incentivizing teamwork. The blockchain consortium used its recent trusted compute standards, self-sovereign identity, and token taxonomy definitions to create the system.
EEA members Microsoft, Intel, ConsenSys, iExec, and Kaleido worked together on the application and will demonstrate it tomorrow at the Devcon 5 conference in Osaka. Banco Santander and Chainlink will provide case studies of the token system.
It uses blockchain-based credentials for enterprise, so team members can earn, share, and redeem tokenized rewards. The tokens come in three types – reputation, reward, and penalty.
For instance, if a colleague contributes some good ideas for a project, you might give them reputation tokens. Or if you complete a complicated bit of coding for a blockchain application, you could be given a reward token.
The tokens are based on the EEA’s Off-chain Trusted Compute Specification, so they don’t slow down the network and are trustworthy enough to be used between different companies.
“2019 has been a year of growing market acceptance, and Devcon 5 is where attendees will experience how Ethereum – enabled by EEA member-driven standards – delivers real-world value through tokenized enterprise solutions,” said EEA Executive Director Ron Resnick.
Microsoft’s Marley Gray, an EEA board member and chair of the Token Taxonomy Initiative, agreed: “The EEA brings together a standards-based approach for tokenization and off-chain compute to define the building blocks needed to drive global interoperability.”
Interestingly, the application runs in Hyperledger Besu, a public Ethereum client for enterprise. Plus most of the firms involved in this project worked on Hyperledger Avalon, which implements the EEA’s trusted compute spec. This token project is yet another sign of alliance between Ethereum and Hyperledger.
Brian Behlendorf, Executive Director of Hyperledger, stated: “We are thrilled to see the evolution of the EEA and Hyperledger collaboration around the EEA’s Trusted Execution Task Force.”
“Not only is the prototype implementation of those proposed standards being built within Hyperledger Lab, but the Devcon 5 EEA Reward Token Trusted Compute demo leverages Hyperledger Besu – the first Ethereum public blockchain on Hyperledger and one that conforms to EEA’s Client Specification,” he continued.
The consortium also announced today its newest Client Specification (V4) and improvements to the Trusted Compute spec. These improvements, according to iExec and Intel, are thanks to work done on Hyperledger Avalon.
