SAN FRANCISCO--(BUSINESS WIRE)--Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities and the Universal Protocol Alliance, creator of the Universal Protocol Platform, today announced that they will join the Board of the Blockchain Advocacy Coalition to provide education and support to state and federal legislators and regulators.
“We’re pleased to welcome Cred and the Universal Protocol Alliance to our Board,” said Ally Medina, Executive Director of BAC. “These pioneering blockchain organizations are at the cusp of innovation. By working closely with policymakers and regulators, our board members will help develop thoughtful policy initiatives that support innovation in the blockchain industry and benefit the U.S. economy.
Blockchain Advocacy Coalition has taken the time to build relationships in Sacramento with policymakers, regulatory bodies and office holders. California has half of the nation’s cryptocurrency and blockchain industry, a share that will increase as more positive legislation passes. The state is uniquely well positioned to lead the nation on regulation that supports blockchain innovation, and we are here to make sure it’s done right. Thoughtful legislation passed here can serve as a model for the federal government and other states.”
“We’re pleased to be working with BAC to help policymakers understand and advocate for crypto and blockchain friendly policies,” said Dan Schatt, Co-founder of Cred and the Universal Protocol Alliance. “Our mission is to offer a more equitable, transparent and inclusive set of financial services through blockchain technology. Helping Sacramento and Washington understand the policy implications with this new technology will ensure that it can be prioritized accordingly.”
“California has always been a place for innovation and opportunity, and SB 838 shows how we can use technology to increase consumer protection and help prevent cases of fraud,” said Senator Hertzberg (D-Van Nuys). “That it was signed into law is a great testament to the work being done around the state by folks like the Blockchain Advocacy Coalition to advance this rapidly growing technology.”
About the Blockchain Advocacy Coalition
The Blockchain Advocacy Coalition is committed to educating legislators and regulators about blockchain technology and advancing regulations that support innovation. BAC supports political advocacy that directly benefits the blockchain and cryptocurrency industry and allows its members to gain access and insight into local, state and federal level politics, and to connect with other businesses that share these values.
Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products. Cred’s LBA token is available in more than 180+ countries including the US. For more information, visit mycred.io or follow us on Twitter, Facebook and LinkedIn,
About the Universal Protocol Alliance
Universal Protocol Alliance (UP) is a coalition of cryptocurrency companies and blockchain pioneers, the Universal Protocol Alliance seeks to accelerate the adoption of blockchain as a mainstream financial technology by making digital assets more accessible, secure and convenient to own. The Alliance consists of Uphold, Brave Software, Cred, Blockchain at Berkeley and FBG Capital.