blockchain relationship policymakers

Two blockchain-focused companies have joined the Chamber of Digital Commerce’s Executive Committee membership. The membership includes companies such as Microsoft, Bitfinex, and BitFury.

Today The Chamber, as it’s known, announced IBM and the Depository Trust & Clearing Corporation (DTCC) will be added to the committee. IBM is one of the major companies using blockchain technology for healthcare, finance, and government services. Last year, IBM introduced ADEPT, a proof-of-concept project using the blockchain for a decentralized Internet of Things. Partnering with Samsung, the system using multiple platforms to secure transactions. They use BitTorrent for file sharing, Ethereum for its smart contract protocol, and TeleHash for its peer-to-peer messaging. They are currently invested in the blockchain startup, Digital Asset Holdings and are a part of the Linux Foundation’s Hyperledger Project.

“It is critical from a national competitiveness point of view for US companies and government agencies to lead the world in understanding the potential of blockchain and putting it to use. Blockchain will greatly benefit from government participation and we are pleased to join the Chamber of Digital Commerce to support engagement with the policy making community,” said Jerry Cuomo, Vice President, Blockchain Technologies, at IBM.

DTCC handles global financial services that utilize the blockchain technology to conduct safer and secure trades on the ledger. Currently the world’s leading post-trade market infrastructure, the company oversaw $1.5 quadrillion worth of securities transaction in 2015 alone.

The Chamber also announced Mark Wetjen, Head of Global Public Policy for DTCC, will join the Board of Advisors.

In a statement, Wetjen said,

“New technologies are creating tremendous opportunities to connect economies around the world, make markets safer and more efficient and deliver services to consumers in novel ways. In particular, distributed ledger technology offers the industry a unique opportunity to drive targeted improvements to the financial market infrastructures that underpin the global capital market.”

Wetjen joins Blythe Masters, CEO of Digital Asset Holdings, Matthew Roszak, Co-Founder of Bloq, and Jason Weinstein, Director of Blockchain Alliance and former Deputy Assistant Attorney General of the United States Dept. of Justice.

The Chamber is a Washington, D.C.-based trade association dealing with blockchain technology. The association communicates with policy makers, regulatory agencies, and government officials to educate on the developing technology. In May, the Chamber met with Members of Congress to enlighten the roundtable for prospective policies.

Image via Shutterstock

Drop of Light /

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.
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