Intel and Microsoft are backing a brand new system of reward tokens invented by the Enterprise Ethereum Alliance(EEA)
EEA produce new reward token system
The EEA. That sets standards for Ethereum-based blockchain applications in business, shared the developments during a statement with cointelegraph on October 7.
The organization aforesaid that it created a new system of reward tokens that has the support of both code giants.
The manager of Intel’s blockchain program Archangel Reed told reporters that there are three (3) kinds of the tokens. They have the reward token, a reputation token and also a penalty token.
In addition to his statement, he quoted
“It can be applied to any consortium to encourage teamwork, the example we are using is a software development consortium like the EEA, where we are trying to motivate activities such as editing and contributions to specifications, developing and adding codes. Then, of course, you could apply penalties for negatives like lack of contribution, lack of review, missing deadlines and so on”.
EEA is a blockchain organization with over 450 enterprise business members like Microsoft, JPMorgan Chase, Intel, Santander, Accenture, Cisco and ING. its fresh created token aims to encourage and reward companies, who are actively taking part in a consortium.
Cointelegraph has antecedently reported on the utilization of tokens to align and reward corporations and people for his or her efforts.
The Austrian capital of Vienne was reported to be developing a blockchain-based token as a part of a local reward program, early 2019.
The questionable Austrian capital token would granted reciprocally for providing feedbacks concerning the city, in an associate application designed to pay for rewarding citizens for riding their bikes or parking it.
The tokens would later be chafed into something valuable like theatre tickets.
In August, the EEA printed collections of use cases for blockchain technology in telecommunications.
The listed provided information on however blockchain telecom call roaming users reconciliation, authentication and also the privacy of data and monetization within the telecommunications trade.