As the blockchain sector has grown a lot in the past five years, it the time to start new groups and create a foundation for the future of the technology. Now, this is starting to happen.
According to a report from GeekWire, the lot have joined the Cascadia Blockchain Council, an important group of entrepreneurs and blockchain-based companies which aim to get together in order to start up a new hub for the blockchain industry in the Pacific Northwest.
An Initiative to Turn the Pacific Northwest Into a Blockchain Hub
The states of Washington and Oregon have been beacons for new technologies. With Seattle being the hometown of some of the biggest companies in the world, such as Amazon and Microsoft, it seems the area is fertile ground for tech companies to grow.
Blockchain technology, while young in a historical sense, has seen unprecedented growth in the past six to eight years. Its development, however, has been almost equally spread out around the world, making collaborations and cooperation much harder at times.
That’s why some of the biggest players in the tech industry, all concentrated in the Pacific Northwest, have formed a council to help make the area a hub for the burgeoning technology.
According to a report from GeekWire, the council was founded by enterprise players such as Microsoft and T-Mobile, blockchain startups Strix Leviathan, Bittrex, and CryptoSlate, as well as organizations like the Washington State Department of Commerce, the University of Washington, and the Washington Technology Industry Association (WTIA). While the organization itself was formed three months ago, its official website launched on Mar. 28th.
Cascadia Blockchain Council Believes in Technology’s Potential
During a conference hosted by TF Blockchain in Seattle on Thursday, Arry Yu, the blockchain council chair at the WTIA, said that she believes blockchain has the ability to bring people together. The aim of the Cascadia Council is to unite the companies looking to grow the technology, she explained.
According to the council’s website, Pamela Dingle, director of identity standards at Microsoft, and Chris Spanton, senior architect of blockchain at T-Mobile, will be representing the area’s biggest companies.
Bittrex, the 45th largest cryptocurrency exchange in the world, will reportedly also be part of the council. The Seattle-based exchange is expected to bring its inside knowledge and experience in the industry to the table.
Another reason behind the creation of the council is the fact that investments in blockchain companies are healthy despite the ongoing crypto winter. In the first two months of 2019 alone, a variety of venture capital firms poured more than $100 million into blockchain firms, a Pitchbook report found.
“There is so much pent up demand for blockchain. People don’t realize how much is going on in Washington.”
The council also expects its membership to grow as other companies and organizations from across the Pacific Northwest join the group.