Toronto-Dominion Bank (TD) is the first Canadian bank to join a global trade group that aims to promote the adoption of blockchain technology and the use of digital assets.
The Washington, D.C.-based Chamber of Digital Commerce announced on Monday that TD has joined its executive committee “to promote the acceptance and use of digital assets and related technologies.”
The Chamber engages in public policy advocacy and education efforts to advance the adoption of blockchain technology (also known as distributed ledger technology [DLT]), and the use of digital assets.
Proponents of DLT, which underlies digital currencies such as Bitcoin, tout blockchain technology as a faster, more efficient and secure alternative to traditional systems for clearing, settling and recording transactions.
“There is no denying that there is a tremendous opportunity to apply blockchain technologies in the world of finance, to provide better, more secure and more economical banking services,” says Chris Owen, vice president, enterprise shared platforms, blockchain, with TD, in a statement. “However, unlocking this potential will take collaboration and we look forward to working with the Chamber and its members to nurture this thriving ecosystem and accelerate the adoption of blockchain technology.
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