A body aiming to develop and promote the adoption of the Ethereum framework has formed under the Microsoft Enterprise Code Alliance . It is most likely that smart contracts will be the focus of the alliance . Also, one of the BNY Mellon representatives pointed out that there will be an official announcement forthcoming. Smart contracts are the code that is able to self - execute and self - enforce terms of an agreement , which can be used to automate a lot of transactions and shared business practices . Members of the Microsoft - backed alliance include industry heavyweights JP Morgan , CME Group , BNY Mellon , Banco Santander , Red Hat , Cisco , Wipro and British Petroleum as well as well - regarded software companies BlockApps , Brainbot Technologies , Consensys , Tendermint , Nuco and Ethereum Foundation .
A body aiming to develop and promote the adoption of the Ethereum framework has formed under the Microsoft Enterprise Code Alliance . It is most likely that smart contracts will be the focus of the alliance . Smart contracts are the code that is able to self - execute and self - enforce terms of an agreement , which can be used to automate a lot of transactions and shared business practices . Members of the Microsoft - backed alliance include industry heavyweights JP Morgan , CME Group , BNY Mellon , Banco Santander , Red Hat , Cisco , Wipro and British Petroleum as well as well - regarded software companies BlockApps , Brainbot Technologies , Consensys , Tendermint , Nuco and Ethereum Foundation .