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ETH · 17w

Coinbase and Leading Firms Establish "Blockchain Association" Lobbying Consortium

Industry Leaders Establish The “Blockchain Association”  Photo by Jomar on Unsplash

On Tuesday morning, it was revealed that an assortment of the leading firms in this nascent industry would be joining hands to establish the so-called “Blockchain Association.” Letting the world know about its existence, the recently-created association released a press release via Medium to bring awareness to its goals, aspirations, and plans for the future.

Opening the press release, the consortium of like-minded firms highlighted the growth and development of the blockchain and crypto asset ecosystem. Although it is evident that crypto’s recent round of growth was ground-breaking, the group of firms noted that there are still a variety of “minefields” that innovators in this space will have to traverse over, including concerns of consumer protection, fraud, manipulation, and the like from regulators around the world.

Keeping this regulatory uncertainty in mind, the founding members of the association revealed that it would be launching a Washington DC-based “non-profit trade association” that will be focused on pushing a unified narrative to U.S. regulatory bodies that are located in America’s capital.

The Blockchain Association elaborated on the details, writing:

Our objective is to create a pro-innovation environment for the industry, meeting the growing global demand for accessible, transparent and democratic financial and technical systems.

To accomplish this plan, the group intends to build relationships between the cryptocurrency community and industry leaders, to educate regulators and common consumers about this up and coming technology, and to advocate for policies and regulation that “enables innovation” via crypto assets and decentralized systems.

It is important to note that this isn’t a fruitless venture, as influential firms like Coinbase, Protocol Labs, Circle, Digital Currency Group And Polychain Capital will be joining the...

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