“The Digital Chamber is a Washington, D.C.-based trade association dedicated to promoting the understanding, acceptance and use of digital assets and currencies.”
Unfortunately people around the globe, including policymakers, are mostly confused about Bitcoin and much of this confusion comes from the media’s “yellow dog” journalism tactics.
The media will cover events such as the Mt. Gox failure or speculation about Bitcoin being used by criminals or terrorists but never mention the benefits of cryptocurrencies such as security, individual control over personal finances. The best way to counterbalance this is for the Bitcoin community to have representatives who will promote Bitcoin to policymakers.
On Monday, The Chamber of Digital Conference, led by economist Perianne Boring addressed the Office of the Director of National Intelligence, Central Intelligence Agency (CIA), U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN), Federal Bureau of Investigation (FBI), U.S. Department of Commerce, and Government Accountability Office (U.S. GAO) in an attempt to increase their understanding of cryptocurrencies.
Boring commented in a press release about her recent meeting with the intelligence community:
“With a current market capitalization of about US$5.8 billion, digital currencies are a growing force in the global marketplace and are here to stay. As we see a generational shift led by the millennials, digital currencies will become as commonplace as email and Facebook. The Intelligence Community is a very savvy group. They are paying attention to digital currency because they know it’s the future.”
Boring is both the president and founder of the trade association and has been very active in promoting a clear understanding of virtual currencies over the past several months. In August the association hosted “Bitcoin Education Day” on Capitol Hill, where 32 Bitcoin professionals from 12 states who flew in to Washington DC and briefed over 70 Congressional legislative aides about virtual currencies.
Boring also addressed the Australian Senate recently about the evolving regulatory atmosphere surrounding virtual currencies in the United States, testifying alongside Ronald Tucker, Chairman of the Australian Digital Currency Commerce Association and other industry representatives.
Boring’s testimony to the intelligence community is vital because of the American obsession with terrorism and criminal threats and lack of real knowledge about the benefits of cryptocurrencies. Regulation, in some form, is both necessary and a foregone conclusion. Nevertheless, this regulation should only be crafted by policymakers who are informed of all of the facts concerning these new technologies.
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