Washington DC Launches First Blockchain Innovation Center

The Chamber of Digital Commerce and technology incubator 1776 have joined forces to launch the DC Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Center. It will serve as Washington DC’s entrepreneurial resource for technology providers, government contractors and agencies investing and innovating in blockchain-based technologies.

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The DC Blockchain Center at 1776 is the first blockchain incubator in Washington, DC and is focused on helping regulators and government agencies, including state, federal and international, understand the potential benefits of blockchain technology and public sector use cases. It also provides a forum for the public and private sectors to collaborate.

Perianne Boring, founder and President of the Chamber of Digital Commerce, commented: “We strongly believe that one of the most effective forms of advocacy is for the government to utilize and implement blockchain technology, and to experience the benefits first hand.The DC Blockchain Center has already received requests from government agencies looking for blockchain technology resources, and anticipates further inquiries around issues like cybersecurity, identity management and asset registry."

"Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term is a challenging space for governments and their constituents," added Evan Burnfield, co-founder and co-CEO of 1776. “We're thrilled to welcome the DC Blockchain Center and its community of innovators to 1776. It's uniquely positioned to connect the dots for government agencies and drive massive scale success through our connections, resources and mentoring programs.”

The incubator is one of many efforts being undertaken at 1776 to foster innovation around financial technology.

The Partners

The Chamber of Digital Commerce which earlier this month announced that Cognizant had joined the association's executive committee, is the world’s leading trade association representing the digital asset and blockchain industry. It seeks to promote the acceptance and use of digital assets and blockchain-based technologies. through education, advocacy, and working closely with policymakers, regulatory agencies and industry.

1776 is a public benefit corporation that scouts and funds high-growth startups around the world focused on solving society’s most fundamental challenges in sectors like education, energy, transportation and financial services.