Card Issuer Discover Has Joined a Blockchain Group
The US-based financial payments company, Discover Financial Services, has become a member of the Chamber of Digital Commerce. Their purpose is to support and engage in activities related to “blockchain education and advocacy”.
According to the announcement made on 17th April 2018, the company that issues the Discover Card will “join the Chamber’s efforts to educate, promote and accelerate the adoption of blockchain technologies worldwide“.
Discover’s services are available in over 185 countries, being known as one of the biggest “card issuers in the United States”, according to the statements.
The President of the Chamber of Digital Commerce, Perianne Boring has expressed her surprise, saying that she is delighted to collaborate with such a company. “It’s really a sign of the maturation of the blockchain industry, in that one of the largest companies is getting involved and I think it’s a positive sign,” she added.
These two organizations are not in their first collaboration. According to Boring, Discover and Chamber have worked together to design a code-a-thon, noting that Discover has significantly helped to increase the Chamber’s benefits and adopt blockchain technology in day-to-day operations.
She stated that “With the plethora of regulators from the [U.S. Securities and Exchange Commission] to the [Commodity Futures Trading Commission] to [the Office of Foreign Assets Control], all of these regulatory bodies are taking their approach to the industry and there’s no central point of contact. No one knows who has jurisdiction over what.”
In Boring’s opinion, the fact that Discover Financial Services has joined the Chamber of Digital Commerce will positive influence the organization and improve their community. Perianne Boring hopes that state legislatures will create their own regulation and the technology road will be more accessible to companies.