Sweetbridge Featured At US Chamber Blockchain Summit

At an August 1 blockchain summit hosted by the world’s largest business association, Sweetbridge Alliance VP Jamie Moy was featured on a panel discussing the emergence and implications of cryptocurrency.

Sweetbridge was honored to participate in the U.S. Chamber of Commerce’s first-ever blockchain conference this week, with Jamie Moy — our VP of Alliance Strategy — contributing to a discussion on how crypto fits into the blockchain ecosystem.

Sweetbridge Alliance SVP speaks on crypto panel at US Chamber blockchain event (photo via Aaron Stanley)

In front of an audience of 750 governmental and industry professionals, Moy shared her views on what makes cryptocurrencies important and why they have exploded in interest over the last 18 months. Specifically, she highlighted the appeal of being able to transact without the frictions created by third parties such as banks and governments, as well as the concept of global programmable money.

The U.S. Chamber is the largest and most influential business association in the world. It claims over three million members globally and has significant political muscle both in Washington and abroad.

Last month, the group took its first official policy stance on cryptocurrencies and initial coin offerings, arguing that these technologies are important developments and calling for a sound regulatory approach that balances the fostering of innovation with consumer and investor protections.

Moy and her fellow panelists articulated the importance of greater regulatory clarity in the United States surrounding the issuance and use of cryptocurrencies and initial coin offerings, noting that more anecdotal evidence is emerging that companies and startups are moving offshore to jurisdictions that offer greater certainty and lower compliance burdens.

There was also an attempt to counter prevailing negative narratives surrounding bitcoin and other cryptocurrencies — that they are used for money laundering and other sorts of nefarious purposes.

Moderator Jo Ann Barefoot pointed out that for activities that require anonymous transactions, old-fashioned cash is still the best means of exchange.

Moy added:

“Right or wrong, we’re trying to impose similar rules and regulations on the crypto world, and that’s a challenge, but [these concerns] haven’t been solved in the traditional financial system either. We try to mitigate it with due diligence and process and paperwork, but it still happens everyday.”

While the job of U.S. regulators overseeing the activities is difficult enough because of the complexity of new blockchain-based technologies and ecosystems, Moy and the panel explained, the task becomes even more difficult because of the associated global implications — particularly the notion that the emergence of ICOs means that capital formation is becoming a global phenomenon.

About Sweetbridge

Sweetbridge is a new economy built for commerce that enhances the world’s current economies. Sweetbridge and its alliance partners offer a unique set of blockchain protocols, applications and crypto-economics to create an economy of opportunity for all participants. The goal of Sweetbridge is to transform brittle, industrial-era commerce through decentralized industry ecosystems that create a faster, fairer value exchange, unleash working capital, better utilize resources, and optimize talent for the benefit of all participants. For more information, follow Sweetbridge on Twitter at @sweetbridgeinc or visit https://sweetbridge.com.