Industry Veterans, Coinbase Establish Blockchain Association
With the emerging trend of cryptocurrency in the financial world, leading industries are willing to establish a blockchain forum in order to promote its existence. The newly developed organizational heads in a recent press release have stated their ambition and aspiration for the prospect.
The Blockchain Association as a Driving Force for Crypto
In the recent press release, the conglomeration of alike-minded leaders has noted down the aspects required for the exponential growth cryptocurrency industry and its underlying blockchain technology. Although there has been a revolutionary growth in the recent aspects of cryptocurrency, industry leaders are of the view that there is still scope for mine fielding, and it requires the groundbreakers in this sector to travel to various regulators from around the globe while keeping parity with the protection of customer interest and minimizing the fraudulent activities
Going in further detail, organizational heads of the blockchain forum stated that their prime objective is to create an innovative world for the cryptocurrency industry. It aims to meet the increasing global demands for having a translucent, easily accessible, and decentralized system having full support on the technical and financial aspects.
Poised to achieve their objective, the founding members are striving hard to develop a relationship between the leading industry veterans and the cryptocurrency community. This will also help in educating the regulators as well as consumers about the technology, and advise them about the policies which can enable innovation in business with the help of decentralized ecosystem and crypto assets.
Several influential organizations such as the Protocol Labs and Coinbase ware joining hands to start this blockchain association. It took several weeks for the firms to implement the concept before establishing this blockchain association. After combing through all their ideologies, they aspire that this association will be a turning point in the history of cryptocurrency.
Mike Lempres, the head of legal risks in Coinbase and the forerunner of the association, explained his concept behind the creation of the forum. The main purpose of this organization is to conglomerate the reputable organizations that can abide by the regulations before welcoming cryptocurrency. The BC forum is striving to instigate a legal, regulatory system, the one that will last long.
The formation of the BC organization happened just months after Coinbase’s intention for creating a PAC, i.e. the political action committee in July 2018. In a recent report, it has been stated that Coinbase has begun its internal PAC that comprises associations that assist endorsing government project abiding by the concept of cryptocurrency. Although both PAC And blockchain association are relatively new and they a still lot more to achieve in future.