eBay joins the Enterprise Ethereum Alliance

A unique American online auction, there are more than 100,000,000 registered users around the world who use instant payments to buy/sell a variety of goods. It's not surprising that one of the largest retailers in the world, with $10 billion in revenue and nearly $2 billion in annual profits, couldn't stay away from blockchain technology and its ability to enable instant transactions.

eBay announced its intention to accept Bitcoin as a new payment method at the end of 2017, and already in February of this year announced its refusal to cooperate with PayPal in the field of payment processing and the conclusion of an agreement with the Dutch service Adyen, which integrated Bitcoin into its system, which made it possible to accept digital currency for payment. To date, the company has not officially announced the reasons for joining the largest blockchain consortium. But it can be assumed that the possibility of expanding cryptocurrency payments is the focus of eBay.

Enterprise Ethereum Alliance (EEA) is a non-profit alliance consisting of financial and technology companies and funds. It was created in 2017 to promote and support technologies and standards based on the Ethereum blockchain. 

Today, more than five hundred companies have joined the alliance, including representatives of different sectors of the economy. Among the new members of the structure is one of the four large accounting firms that are part of PwC, Pricewaterhouse Coopers LLP, whose interest in Ethereum technology lies in the field of tax and accounting issues, the Taiwanese company Foxconn, which opened a $10 billion plant in Wisconsin, is rather attracted by the use of blockchain innovations in the field of logistics. In total, seventy new companies joined the consortium during 2018. EEA created its Quorum blockchain based on ethereum and later hopes to link this blockchain with ethereum. 

Hyperledger from the Linux Foundation, a fairly complex and global project that is being developed by blockchain technology, also strives to compare with the international alliance. During this year, it added eleven new members, including Lenovo, JD.com, BGI Shenzen and four more Chinese companies. Hyperledger has built its own blockchain and is working to create and launch platforms that support global business transactions.