Institutional trading network and infrastructure provider OTC Exchange Network (OTCXN) that uses blockchain technology, announced that it has joined as a member of one of the leading trade association representing the blockchain industry – Chamber of Digital Commerce.
“The tide for blockchain is unstoppable as it is being used to re-engineer financial markets around the world. Gaining the support of regulators and lawmakers will be essential for institutional adoption of blockchain technologies. This requires an education process and a collective, yet unified voice – and the Chamber of Digital Commerce is leading these essential industry efforts,” Rosario M. Ingargiola, founder and chief executive officer of OTCXN, stated in the release.
The blockchain based peer-to-peer electronic trading network of OTCXN is built and designed to democratize access to the markets starting with OTC Spot FX. The proprietary blockchain fabric of OTCXN is provided on a standalone basis for businesses in the global enterprise industry. It is also described as requiring absolute certainty of event chronology, strict data privacy and security, and high-frequency events recording with immutability guarantee.
The institutional trading network is a founding participant of the Chamber’s Blockchain Intellectual Property Council (BIPC) that was formed earlier this month. The initiative aims to promote innovation in blockchain and will help balance the protection of proprietary information with the openness necessary for innovation.
“We’re pleased to welcome OTC Exchange Network to the Chamber of Digital Commerce’s membership,” Perianne Boring, founder, and president, Chamber of Digital Commerce said. “OTCXN has already demonstrated tremendous enthusiasm and leadership in supporting industry collaboration. We look forward to their participation in our many initiatives and working groups.”
