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Microsoft, Banking Provider USAA Join Blockchain Advocacy Group

Last Updated March 4, 2021 4:48 PM
Samburaj Das
Last Updated March 4, 2021 4:48 PM

Technology powerhouse Microsoft and military-centric banking and financial services firm USAA are the two newest members to join the Chamber of Digital Commerce (CDC), a Washington-based blockchain policy advocacy group.

Microsoft and USAA are joining the Chamber of Digital Commerce, a non-profit lobbying group based in Washington, DC working to help build the regulatory framework and policies for the bitcoin community and companies by promoting digital assets and its use.

Led by Perianne Boring as its founder and president, the CDC has in recent times launched the Global Blockchain Forum, partnering with leading trade associations championing blockchain and digital asset industries around the world. Notably, the CDC also spearheaded the recent Blockchain Alliance, a public-private initiative where prominent bitcoin companies and organizations have mutual co-operative ties with government agencies that include law enforcement authorities, in a joint forum.

Microsoft and USAA are joined by industry startups Bloq, a new blockchain startup founded by Bitcoin Core developer Jeff Garzik and; Symbiont, a startup specializing on blockchain applications for capital markets.

In a press release, Perianne Boring stated:

Market leading companies continue to enter the blockchain ecosystem at an unprecedented pace. They quickly realize that education and advocacy efforts are mission-critical to the success of the industry’s future.

The USAA, a bank that specializes in banking, insurance, and other financial services to US military members and their families is particularly notable for its foray into researching and even integrating bitcoin usability for its members.

As one of the investors in bitcoin exchange Coinbase’s record $75 million Series C funding round from January 2015, USAA was also revealed to be studying blockchain technology in May 2015.

In recent times, the USAA announced bitcoin integration via Coinbase for all member accounts on its website, following an initial and successful 2015 trial.

Microsoft is notable in its presence in the Bitcoin space as a corporation that accepts Bitcoin payments from customers on its online e-commerce outlet, the Microsoft Store. The feature, introduced in December 2014, was one that Microsoft was happy to remind users of in recent times.

In recent times, Microsoft has been making waves for its Blockchain-as-a-Service (Baas) offering for users of its cloud-based Azure service.

 Featured image from Shutterstock.