The consortium includes over 100 organizations devoted to interoperability among protocols for the Ethereum blockchain. It focuses on research, development, scalability, and security for both private and public manifestations of the blockchain.
iExec CEO and co-founder Gilles Fedak explained the mutual benefits for EEA and iExec:
"The simple truth is that centralized cloud services are falling behind current demand for computing resources. The iExec team knows this through our work at the leading edge of distributed and cloud computing. With Ethereum we see how a new paradigm of cloud computing is not just possible but absolutely essential, to meet the current needs of cloud SaaS, PaaS and IaaS markets, and to meet the needs of the next wave of innovation such as High Performance Computing, Artificial Intelligence, Internet of Things, Blockchain Computing and other forms of distributed business."
According to the announcement, "iExec aims to create a decentralized cloud and set up a marketplace for computing resources." iExec said that the use of executable distributed code contracts to manage the network will allow users to "monetize their participation, automating payment transactions for the give and take of services."
Fedak expressed pride in the joint collaboration – "iExec is proud to join the EEA to establish collectively the next generation IT infrastructure that will power Ethereum Dapps and beyond.”