Ethereum Is Business-ready, Says Foundation-linked Body, but ‘Caveats’ Remain
The authors of a new report claim that Ethereum (ETH) is “ready” for use in the world of business – albeit with “some caveats.”
The report was compiled by the Ethereum Enterprise Alliance (EEA) – a business-focused affiliate of the Ethereum Foundation. Its authors claimed that while the “pieces are in place” for “the safe and productive use of Ethereum as a business platform,” the aforementioned pieces do not yet “necessarily fit together seamlessly.”
In a press release, the EEA’s Executive Director Dan Burnett was quoted as stating that the body’s “analysis and examples” showed that “the pieces are now in place in the Ethereum ecosystem for the safe and productive use of this technology as a business platform.”
The report’s authors, who provided a number of case studies to back up their claims, wrote that Ethereum was a “safe and productive” business platform that has “matured greatly” and was now a “battle-tested and “globally significant settlement layer.”
They explained that the “important thing for businesses to keep in mind in this context is that Ethereum is a complete ecosystem,” writing:
“Compared to its early days, there is a rich assortment of standards, tools, providers, and platforms that businesses can turn to.”
In addition to the mainnet, sidechains and Layer 2 (L2) solutions help provide the “sustainability, performance, and privacy” that some companies will likely hanker after.
Although they conceded that the “regulatory environment for digital assets and blockchain technology (as opposed to cryptocurrencies)” was still far from stable “in many respects,” they claimed that this “need not be seen as a blocker.” They added that “many jurisdictions” now “see the potential of blockchain and look favorably on it.”
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