Many leading blockchain organizations like Blockchain at Berkley, Uphold, Brave, and Cred recently announced on August 23, 2018, the creation of a Universal Protocol Alliance (UPA).
The goal of UPA is to ensure that blockchain technology and cryptocurrencies will reach the mainstream public. They believe that the current verticalization of blockchain platforms leads to many inefficiencies. The coalition’s plan to solve these challenges is to ensure that all cryptocurrencies can be accessed on a single network.
According to the official announcement, the UPA believes that interoperability between different blockchains must occur for mass user adoption of these technologies. Currently, digital assets like bitcoin and ether can only exist on separate blockchain platforms and are unable to interact with one another. Unfortunately, this siloing often results in inefficiencies as independent projects cannot collaborate in meaningful ways, hindering innovation.
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