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Wall Street Blockchain Alliance Eyes Economic Empowerment

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

The Wall Street Blockchain Alliance, a non-profit advocacy group for distributed ledger technology has announced two new working committees, each chaired by noteworthy industry experts. One of the committees is working toward economic inclusion of the unbanked.

The Wall Street Blockchain Alliance (WSBA ), an advocacy group that promotes digital currencies’ and distributed-ledger technologies’ adoption in financial markets has announced the launch of two new working committees. They are – a Regulatory & Compliance committee and an Economic Inclusion Working Committee.

Ron Quaranta, WSBA Chairman and CEO of Digital Currency Labs stated:

These new Working Committees are the direct result of growing member involvement in the many important aspects of blockchain technology across financial markets and beyond.

The WSBA, as a non-profit group, offers full membership within its ranks for financial firms and associate memberships for bitcoin and blockchain companies. Its core objectives include educating and lobbying government agencies about digital currencies and blockchain technology, touching on subjects such as regulation and taxation.

The newly formed Economic Inclusion Working Committee will be chaired by Ashish Gadnis, CEO of fintech firm BanQu, a blockchain identity platform pushing for financial inclusion.

In a statement, Gadnis spoke about the potential of distributed ledger applications to those in dire financial and humanitarian need. He stated:

As blockchain technology continues to evolve, it is absolutely critical that its applications enable economic empowerment and access to a better life for refugees, people living in extreme poverty and overall gender equality globally. I hope to bring these voices to WSBA.

The Regulatory & Compliance committee will be chaired by Ms. Amal Aly, a director at PwC and a former associate general counsel for the Securities Industry and Financial Market Association (SIFMA).

She stated:

Just as distributed ledger technology continues to evolve, so will the compliance and regulatory landscape in which it will operate. I look to participating in that very important dialogue.

Featured image from Shutterstock.