Microsoft & Intel support tokens created by Enterprise Ethereum Alliance

Enterprise Ethereum Alliance

Enterprise Ethereum Alliance

Microsoft and Intel are supporting a new system of reward tokens created by the Enterprise Ethereum Alliance (EEA).

The organization revealed that it has created a new system of reward tokens that has the support of both software giants.

The EEA is a blockchain consortium with over 450 enterprise business members such as Microsoft, JPMorgan Chase, Santander, Accenture, ING, Intel and Cisco. Its newly created token aims to be an incentive and reward companies who are actively participating in a consortium.

Michael Reed, Intel’s blockchain program manager told Coindesk that there are three types of tokens — a reward token, a reputation token and a penalty token. He said:

“It really can be applied to any consortium to incentivize teamwork. The example we are using is a software development consortium like EEA, where we are trying to motivate activities like editing and contributing to specifications, developing and adding code. Then, of course, you could apply penalties for negatives, such as lack of contribution, lack of review, missing deadlines and so on.”

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