The Chamber of Digital Commerce, a leading blockchain trade association, has announced that Singapore-based blockchain application platform Qtum has joined as a new member of the executive committee.

“Regulation remains a critical factor in the adoption of blockchain technology and smart contracts,” said Patrick Dai, co-founder of Qtum who was also recently listed among Forbes magazine’s Top 30 under 30. “We are pleased to join the Chamber of Digital Commerce and support their efforts in advocating for a policy agenda that promotes innovation in the blockchain sector.”

Qtum, a hybrid blockchain application platform, combines a fork of bitcoin core, an Account Abstraction Layer allowing for multiple virtual machines and a Proof-of-stake Consensus protocol, aimed at tackling industry use cases. The Qtum Foundation, headquartered in Singapore, is the decision-making body that drives the project's development. Earlier this year, the Foundation raised $15.6 million in its token sale drive.

“Qtum is of the most innovative platforms in the blockchain industry. We are thrilled to welcome the entire Qtum team to the Chamber, and highly value their expertise and thought leadership in the Smart Contracts Alliance,” said Perianne Boring, founder, and president of the Chamber of Digital Commerce.

Qtum’s co-founder Jordan Earls will serve as co-chair of the Smart Contracts Alliance, the release said. The Alliance is a Chamber sponsored initiative that promotes the acceptance and use of smart contracts technologies to enhance the way business is conducted.

“Smart contracts are one of the most exciting capabilities of blockchain technology, but cannot be realized without multi-stakeholder collaboration,” said Earls. “I look forward to helping shape the Smart Contracts Alliance’s efforts to address key issues such as interoperability and policy that are essential to global uptake.”

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