In a surprising turn of events, the US Department of Justice [DOJ] organized a conference on digital currency and blockchain technology earlier today. Even though many people active in the Bitcoin space see the DOJ as one of digital currency’s strongest enemies, this conference will help the people in charge understand why these concepts are of such great importance to citizens and businesses.
Discussions regarding blockchain technology and Bitcoin are usually a sign of things to come in terms of further regulating digital currency. According to the DOJ, however, the goal of this conference was to bring the public and private sectors together to develop strategies for keeping cybercrime on the low when Bitcoin and blockchain technology are involved.
No one outside of the people invited to attend this conference even knew about the event’s existence. That should not be such a great surprise as government officials do have a way of doing things without anyone else finding out. However, this conference was organized by the DOJ’s dedicated Digital Currency Task Force.
Taking place at the Federal Reserve Bank in San Francisco and with roughly 175 attendees, this conference seems to have been quite a successful one. Most of the topics touched upon were subject to a panel discussion, collecting feedback from people in all areas of life and how they see Bitcoin and blockchain technology.
Such an event wouldn’t be anywhere near a success formula without the participation of noteworthy Bitcoin industry experts. Images have allegedly surfaced on Twitter showing Xapo CEO Wences Casares, Ripple CEO Chris Larsen, and Coinbase founder Fred Ehrsam – among others – speaking and attending this conference.
Finding common ground between people active in the world of Bitcoin and blockchain technology and the ones making up the government is not an easy task. Sharing insights and perspectives will help combat the less-than-legal usage of these new and disruptive technologies.
Another high-profile attendee came in the form of FinCEN Director Jennifer Shasky Calvery. Despite efforts by FiNCEN to grasp the concept of digital currencies and blockchain technology in the early stage, the evolution of those technologies warrant further discussions and talks.
Positive Attention For Digital Currency Technology
Regardless of how you want to look at this conference, it is an overall positive sign for digital currencies and the underlying blockchain technology. Government officials willing to lend an ear to how this digital currency ecosystem has been evolving is a good sign for things to come.
It will be interesting to see what will come of these discussions though, as no further details have been announced at this time. Whether or not there will be an effect on the topic of Bitcoin regulation will become clearer over the next few years. By then, though, everything these government officials learned today will be ancient history .
Source: News Tip via Email
Images courtesy of Shutterstock, DOJ