Cardano Emurgo Joins Chamber of Digital Commerce, What Does This Mean For ADA Price?

The Cardano Blockchain platform, which is highly regarded in the crypto space may yet see another massive price boom in coming days. The network’s latest initiative is likely going to drive Blockchain adoption and push the price of ADA over the top. According to reports, Cardano’s Blockchain commercial branch EMURGO has revealed that it will be joining the Chamber of Digital Commerce. EMURGO will become a part of the executive committee of the chamber.

Cardano (ADA) Price Today – ADA / USD

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$0.106

Cardano to Represent the Blockchain and Crypto Sector in the Chamber

The Chamber of Digital Commerce is reportedly one of the top groups that consist of top Multinational corporations, firms and startups. Cardano would now be representing the digital currency and blockchain industry in the chamber’s executive committee.

The CFO of EMURGO, Manmeet Singh, remarked that this was a huge milestone for Cardano Blockchain and that it will do its best to press on or advocate for Blockchain adoption in different sectors. In his words:

We are happy to welcome EMURGO into the Chamber of Digital Commerce Executive Committee. EMURGO is the official commercial arm of the Cardano Blockchain and is capable of bringing a wealth of expertise as well as insight into the Chamber.”

The president of the Chamber of Digital Commerce, Parianne Boring, revealed that the organization is looking forward to receiving the expertise that the Cardano network would bring to fore. Boring said:

We are pleased to welcome the EMURGO to the Chamber of Digital Commerce, Executive Committee. EMURGO, Cardano’s official commercial arm is going to bring a wealth of experience and insight to the Chamber.”

Cardano’s Membership in the Chamber of Digital Commerce is Good News For Overall Crypto Adoption

Additionally, there has been a number of positive responses from the crypto community concern this news. It appears that many digital asset analysts are in agreement that it is a good step towards driving more adoption for cryptocurrencies.

Since inception, Cardano has been pushing hard for Blockchain solutions within the financial sector. Now, having landed a place on the Chamber’s executive committee, the network can successfully push its ideas further. This move affects the Blockchain industry indirectly as the majority of the members of the Chamber come from financial institutions.

It is expected that EMURGO would engage directly with regulators to aid the formation of efficient Blockchain-related policies, create resources, and state the values of Cardano’s protocol.

Cardano’s Membership of the Chamber is an Indication of the Growing in Blockchain Technology

There is a growing number of mainstream corporations or organizations that have been implementing Blockchain based solutions. This figure is expected to increase by 2019. The Blockchain sector is currently worth at least $400 billion. This figure is expected to reach $3 trillion by 2030.

Cardano has been pushing and embarking on a number of partnerships to sensitize the community about Blockchain solutions. As well as the MOU with Georgia university regarding the Blockchain more recently.

Understandably, Cardano’s membership on the executive committee of the Chamber of Digital Commerce, gives the Blockchain industry the chance to give major input about the present state of regulatory policies based on Blockchain technology.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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