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The Chamber of Digital Commerce (CDC) said on Tuesday it has partnered with incubator 1776, a business incubator for startups, to jointly launch the first blockchain innovation center in Washington, DC. It will also the first blockchain incubator in Washington, DC.
“We’re thrilled to welcome the DC Blockchain Center and its community of innovators to 1776. It’s uniquely positioned to connect the dots for government agencies and drive massive scale success through our connections, resources and mentoring programs,” said Evan Burnfield, co-founder & Co-CEO of 1776, noting that fintech still presents a challenge for governments.
The center will serve as an entrepreneurial resource for technology providers, government contractors and agencies investing and innovating in blockchain-based technologies. In addition, it will provide assistance to regulators and government agencies in understanding the potential benefits of blockchain technology and public sector use cases. The center will provide a forum for the public and private sectors to collaborate.
The DC Blockchain Center has already attracted the attention of government agencies looking for blockchain technology resources. A number of other requests are expected, including in relation to issues like cybersecurity, identity management and asset registry.
“We strongly believe that one of the most effective forms of advocacy is for the government to utilize and implement blockchain technology, and to experience the benefits first hand,” said Perianne Boring, founder and president of the Chamber of Digital Commerce.
Blockchain technology is used by cryptocurrencies for record-keeping of database. It serves as a public ledger for all BitCoin transactions. BitCoin represents a cryptocurrency and an open-source network for peer-to-peer transactions, using no banks or central authority. The network is accessible world-wide and supports international payments. The problem with BitCoin is that users can make transactions without revealing their identity.
The Chamber of Digital Commerce is the world’s leading trade association representing the digital asset and blockchain industry, aiming to promote the acceptance and use of digital assets and blockchain-based technologies.
1776 is a public benefit corporation that seed funds high-growth startups in sectors like education, energy, transportation and financial services. It serves hundreds of startups and institutions worldwide through its innovation curriculum, mentorship, investment and programming.