DC Blockchain Summit 2019
Finishes First Day
DC Blockchain Summit 2019 Finishes First Day
Thank you to everyone who joined the Chamber of Digital Commerce, Georgetown University’s Center for Financial Markets and Policy, and our title sponsor Cisco as we kicked off the fourth annual DC Blockchain Summit.
Day one included a presentation on our National Action Plan for Blockchain from Perianne Boring, President and Founder, and Amy Davine Kim, Chief Policy Officer, Chamber of Digital Commerce. The core ideas of the National Action Plan for Blockchain were carried throughout the day.
The Chamber also announced the addition of financial futures industry leader Don Wilson to its Advisory Board. We also heard from regulators and experts who provided insights on token regulation in the United States.
U.S. SEC Commissioner Hester Peirce; Counselor Craig Phillips of the U.S. Dept. of the Treasury; CFTC Chairman J. Christopher Giancarlo; and Under Secretary Manisha Singh of the U.S. Dept. of State shared their views on the industry. Key themes included harmonizing regulatory regimes and modernizing laws to keep pace with innovators. They shared their views on the importance of engaging with industry stakeholders to enable them to explore and build public and private solutions using blockchain.
We learned from Internet pioneer Steve Crocker about how the Internet was built decades ago, why it is relevant to blockchain innovation today, and how it will impact future economies.
In his keynote entitled, “Breaking Barriers to Blockchain Adoption: Getting to ‘Planet Scale’ Trust,” Cisco Head of Blockchain Anoop Nannra proposed that it is time to consider the immense value of blockchain technology for the supply chain.
Jill Malandrino of Nasdaq interviewed Ripple CEO Brad Garlinghouse who expressed an optimistic outlook on the future of blockchain but also advised innovators to be clear on why they believe blockchain is necessary to their solutions.
Anoop Nannra, Head of Blockchain, Cisco: “It is clear that there is a collaborative environment developing here with the groups interacting through the Chamber to co-develop and co-build our new blockchain-based innovative markets.”
Valerie Szczepanik, Senior Advisor for Digital Assets and Innovation, U.S. SEC: “Internally, government policy and regulatory professionals are seriously thinking about blockchain and, as regulators, we are seeking input from industry. Where there is rapid evolution, we don’t want to prescribe regulations and we want to provide for flexibility.”
Daniel Gorfine, Chief Innovation Officer and Director and LabCFTC, U.S. Commodity Futures Trading Commission: “We started to get the sense last year that in 2019 people would get beyond seeing blockchain narrowly as crypto-assets, and see that the technology could underpin and support lots of industries through automation and smart contracts.”
Brendan Blumer, CEO, Block.one: “We’ve always been building with straw and hay. Now we have cement.”
Paul Atkins, CEO of Patomak Global Partners and Former Commissioner, U.S. SEC: “Yes Virginia, there does exist a utility token.”
Manisha Singh, Under Secretary for Economic Growth, Energy, and the Environment, U.S. Dept. of State: “Blockchain can improve data collection for the census and other valuable applications for the public. We are watching how other nations are utilizing these technologies. We would like to see humanitarian assistance work more effectively and we want to see other countries adopt a light touch regulatory approach. As government, sometimes the best thing we can do is stay out of the way and let innovators innovate.”
Christopher Giancarlo, Chairman, U.S. CFTC: “So, what should your approach be as innovators? My advice to you is this: Keep going! Solve problems. Innovate boldly, innovate with integrity and innovate intelligently. Get competent advice. Follow the law. Keep going. Do not be afraid.”
John Pigott, CEO and Co-founder, ABE Global, “You need all the players at the table, the task now is to combine the best of the best, to bring the energy of the tokenized world together with the compliant capitalized world.”
See our recap from Day 2 of the DC blockchain Summit 2019.