The Chamber of Digital Commerce (CDC) announced today that Canada’s TD Bank Group has joined its executive committee. It becomes the first Canadian bank to join the U.S. blockchain lobby group.
TD Group Joins Other Large Banks and Corporations
The Toronto-headquartered banking group has over 25 million customers and 80,000 employees in offices worldwide. As of April 2017 it had $1.3 trillion CDN in assets.
Chris Owen, TD’s vice president enterprise shared platforms, blockchain, said blockchain technology offered bank customers cheaper and more secure services. He said his company looks forward to working with the CDC to accelerate blockchain adoption.
TD joins a growing list of big banking and corporate names at the Washington, D.C.-based Chamber. Other marquee executive committee members include IBM, Microsoft, BNY Mellon, BNP Paribas, Wells Fargo and Accenture. Over 50 other companies in the blockchain and cryptocurrency space are also committee and regular members.
Blythe Masters of Digital Asset Holdings is a member of the chamber’s advisory board.
Chamber of Digital Commerce’s Lobbying Efforts in D.C.
The Chamber of Digital Commerce was founded in July 2014 by bitcoin and blockchain lobbyist Perianne Boring, who remains its president. Its mission is “to promote the acceptance and use of digital assets and related technologies with the goal of developing a pro-growth legal environment that fosters innovation, jobs, and investment.”
On 11th July 2017 it hosted the “Congressional Blockchain Education Day”, in which its member companies met personally with congressional representatives, senators, and their staff at the U.S. Capitol. As well as the meetings, the day featured a technology demonstration from smart securities” company Symbiont, which is helping build the Delaware Blockchain Initiative.
Delaware, the registered “home” of a disproportionate number of U.S. corporations thanks to its favorable regulation, is attempting to integrate blockchain into its legal framework.
Congressman and 2018 Colorado gubernatorial candidate Jared Polis co-chairs the Congressional Blockchain Caucus, and helped host the CDC event. Polis is also famous for being an experienced and wealthy technology entrepreneur, with a personal net worth of over $400 million.
Will blockchain technology one day become standard at large banks? Let’s hear your thoughts.
Images via Chamber of Digital Commerce, TD Bank Group