The Chamber of Digital Commerce (CDC) has launched the Global Blockchain Forum ( GBF ), a partnering of the leading trade associations for the blockchain and digital asset industries.
The goal is to create industry best practices and international regulatory interoperability.
Founding members include CDC , the United Kingdom Digital Currency Association, the Association of Crypto-Currency Enterprises and Startups, Singapore (ACCESS) and the Australian Digital Currency Commerce Association (ADCCA).
The CDC website includes a global map dividing the regions of the globe into four sectors: permissive, contentious, hostile and unknown. Leading Trade Groups Partner
Perianne Boring , CDC founder and president, told Forbes the forum brings together the leading trade associations to engage with governments. She said it’s important that the stakeholders working with public policymakers and the associations coordinate their efforts.
To date, there has been no formal way to coordinate these efforts, despite the fact that $1.1 billion in venture capital has been invested in the bitcoin and blockchain space in recent years. The forum’s concept emerged after Boring and Ron Tucker, ADCCA chair, realized that efforts in their respective jurisdictions were similar.
Boring said it makes no sense to duplicate resources and efforts. She said the organizations will move faster and farther by working together. In addition, she said many of the associations’ members have an international presence. For such members, it is important to have similar rules, standards and best practices across borders.
“Interoperable” is a word that commonly describes how different digital currency protocols should work together, she said. Regulations Often Inconsistent Not having unified policies among jurisdictions can be expensive for startups. CDC believes companies that operate in the U.S. must abide by different state rules for “money transmitters” and pay between $2 million and $5 million annually in compliance costs.New York has BitLicense, a licensing regulation. California […]
