Card Operator Discover to Assist Blockchain Education and Advocacy

4360 Total Views

Blockchain Trade group collaborated with Card Operator Discover

Discover Financial Services one of global payments giants has collaborated with the Chamber of Digital Commerce for assisting the group’s mission of blockchain education and advocacy.

The organization announced that joining the Chamber’s executive committee as a full member, the company that operates the Discover Card will be ‘joining the Chamber’s efforts to educate, promote and accelerate the adoption of blockchain technologies worldwide.’

The press release says:

“Discover’s payment rails operate in more than 185 different countries, making it one of the “largest card issuers in the United States.”

Perianne Boring, president of the Chamber, said her organization was “excited” to welcome the new member.

She said:

“It is really a sign of the maturation of the blockchain industry, in that one of the largest companies is getting involved, and I think it’s a positive sign.”

She also told that Discover and the Chamber have already worked together before on a code-a-thon. The payments firm ‘began increasing their interest and their operations in the blockchain space, so it was kind of an organic relationship that formed.’

Discover will be working with industry and government to promote the space and which is at present something of a legal gray area as a  fully-fledged member of the group’s executive committee.

She Included:

“The biggest policy issue that the blockchain technology ecosystem is facing today is regulatory uncertainty. With the plethora of regulators from the [U.S. Securities, and Exchange Commission] to the [Commodity Futures Trading Commission] to [the Office of Foreign Assets Control], all of these regulatory bodies are taking their approach to the industry and there’s no central point of contact. No one knows who has jurisdiction over what.”

She also said in order to combine the issues, will be creating their own rules which would be building a patchwork system around the U.S.

She Added:

“Discover’s membership of the Chamber will help strengthen our community. It’s really telling that you have a regulated financial institution getting involved in such a public way.”

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.