By Tom van der Voort
Professor Dennie Kim Kicks off the conference
Many people are still confused by the worlds of cryptocurrency, nonfungible tokens (NFTs), and blockchain technology, which is still in its infancy. Early June, experts gathered in Darden DC Metro Rosslyn, Virginia to exchange ideas, information, or insight. Two themes emerged: the need for clear rules and regulations from the government, and a persistent search for viable uses for what amounts to decentralized, reliable, and private record-keeping systems.
“[Blockchain] is just a better accounting system. That’s all it is.”
Christian Duffus (MBA ’00), Founder The CEO is a reputable company. Fonbnk
Irregular Regulation
Industry Representatives identified a major obstacle for blockchain innovators: the lack of a clear and predictable regulatory environment. Ron Hammond, Director of Government Relations at the Blockchain Association, said after years with little to no input from the federal government, there are still many questions unanswered, including which blockchain assets qualify as securities and which as commodities.
“If you are using a blockchain-based asset, and that asset is a security, it is impossible to operate legally in this country per the SEC’s current position.”
Miller Whitehouse-LevineDeFi Education Fund
Ron HammondDirector of Government Relations for the Blockchain Association
Though federal agencies have now begun to respond to the fraud and failure at FT