Chamber of Digital Commerce Launches Smart Contracts Alliance

The Washington, D.C. based organization, Chamber of Digital Commerce, has been diligently educating government officials and policy makers on blockchain technology.

They have continued to expand the association with the launch of the Smart Contracts Alliance. The SCA will include leaders and innovators within the blockchain and financial industries to promote the use of smart contracts.

Stated in their press release:

“Smart contracts have the potential to deliver greater efficiency, transparency and automation across industries. The SCA's mandate is to educate and enhance the understanding and adoption of smart contracts, provide a forum to develop industry standards and help shape a pro-growth policy framework.”

The alliance will be co-chaired by Mark Smith, CEO of Symbiont, and Sean Murphy, Partner at Norton Rose Fulbright. Along with Symbiont and Norton Rose Fulbright, other founding participants include: Bitfinex, Blake, Cassles & Graydon, Bloq, Cognizant, ConsenSys, Deloitte, The Depository Trust & Clearing Corporation, Eris Industries, Georgetown University's Center for Financial Markets and Policy, Gem, IBM, Microsoft, Norton Rose Fulbright, Perkins Coie, Pillsbury Law, String Labs, Symbiont, Tether, and Wipfli.

"As a pioneer of smart contract technology, Symbiont's end goal has always been real-world implementation," said Smith, Technology Chair of the Smart Contracts Alliance. "This initiative will be key in bridging the gap between concept and reality, and making smart contracts accessible across the board."

Murphy, who will serve as the Legal Chair of the Smart Contracts Alliance stated: "With real-world applications of any major advance in technology like smart contracts, regulation and policy play a pivotal role. I'm excited to bring Norton Rose Fulbright's experience in distributed ledger technology to the Smart Contracts Alliance, and help foster the right legal environment for smart contacts to flourish."

Perianne Boring, Founder & President of the Chamber of Digital Commerce explained the idea of moving forward with smart contracts. 

"Smart contracts have the potential to change the landscape of modern business,” Boring said. “The Smart Contracts Alliance is another facet in the Chamber's growing repertoire of industry initiatives to accelerate the growth of blockchain technology.”

According to the press release, the SCA will hold the first event in the fall of 2016. The focus will look at the future of smart contracts referencing to legal and regulatory challenges.