Microsoft, Intel Back Ethereum-Based Token to Reward Consortium Efforts

The Enterprise Ethereum Alliance (EEA), the consortium charged with creating standards for businesses to build applications using the ethereum blockchain, has created a system of reward tokens to incentivize groups of companies. The system is backed by Microsoft and Intel.

Showcased Tuesday at Devcon 5, the annual ethereum developers conference being held in Osaka, Japan, the so-called trusted reward token is a way of accruing and calculating rewards for active participation in a consortium.

Michael Reed, who manages the blockchain program within Intel’s software and solutions group, explained there are three types of tokens used to motivate participation: a reward token, a reputation token, and a penalty token. 

Reed told CoinDesk:

“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,…