The Digital Currency Council (DCC) was newly officially launched. The press release described DCC as ‘a new professional association created to foster best-in-class practices for lawyers, accountants, and financial professionals in the digital currency economy through training, certification, and ongoing support.’ CCN had a talk with David Berger, the man who came with the idea behind DCC.
Hello, Mr. Berger. Just to make sure our readers are up to speed, can you briefly explain again what DCC is?
Yes, definitely. The DCC is a professional association for lawyers, accountants, and financial professionals in the digital currency economy. The organization provides training, certification, and ongoing support to professionals building their practices in or around digital currencies. Those interested in identifying and hiring professionals can also request a complimentary referral from the DCC to someone with the relevant expertise.
Sounds great and sorely needed. What gave you the idea to start an organisation like DCC?
As I discussed digital currencies with hundreds of financial advisors, wealth managers, accountants, and lawyers, I was met with shoulder shrugs and blank stares. These advisors simply weren’t prepared to answer their clients’ questions about bitcoin – whether the opportunities or the risks. For the most part, these advisors recognized the need to get up to speed and to do so quickly – as their clients were demanding it. In fact, many advisors now recognize that they have a fiduciary duty to conduct diligence on the digital currency asset class. A resource like the DCC makes this effort more efficient.
So there is a demand for Bitcoin education in the professional world? I always imagined little support for it when it comes to profiles like lawyers, accountants, etc…
We have been very warmly received across the professions. Hundreds have already signed up for membership and have begun engaging in our curriculum. Many have also already registered for our certification exam. Passing that will enable professionals to be DCC Certified – a designation that will ensure they are recognized for their expertise by potential clients.
I have been a student of Bitcoin for three years. Without a clear curriculum or resource, I was left to read whatever I could find online – some accurate and some not. It took me a long time to get smart on the subject – that highlights the need for a training program to efficiently bring other professionals up to the requisite level of knowledge for a professional advisor. Today’s advisor can’t take three years to educate him or herself. The digital currency economy is growing exponentially, and our advisors’ knowledge needs to grow just as rapidly.
So it is obvious why DCC is a good initiative. People put their trust into certain professionals, and if needed, these professionals should be aware of digital currencies. Do you believe in the future of digital currencies as well? What do you think that that future has in store for us?
The future of the digital currency economy will be more complex and more integrated with our everyday lives. The blockchain protocol will impact everyone over time. Today over 100,000 merchants accept bitcoin and 1,000 more are being added each week. Who will audit these businesses? Who will file their tax returns? Who will counsel them on transactions or represent them in disputes? Who will manage their assets? It will be DCC Certified professionals.
Do you have plans for the future with DCC?
The DCC aims to serve its membership well and build a community they value. We are grateful to the early support of hundreds of professionals. Over time, we may invite other professional groups or expand our services – but everything we do will be with the members best interests in mind.
The time when Bitcoin was a tiny currency, only supported by computer addicts and anarchists, is already far behind us. As David Berger rightfully stated, a lot of merchants already accept Bitcoin as we speak. Thousands are added each week, creating a demand for certified professionals. The DCC wants to make sure that these professionals are educated thoroughly. By giving them a certificate, they give Bitcoin businesses an opportunity to see who is a certified Bitcoin professional. A great initiative which, hopefully, will grow even larger over time.
Images from Shutterstock and DCC.