The Chamber of Digital Commerce has announced a new member to the organization’s advisory board. Mark Wetjen, head of global policy for the Depository Trust & Clearing Corp. (DTCC) is joining the group’s board membership and the chamber’s executive committee.

The Chamber of Digital Commerce is a Washington, D.C.-based think-tank and advocacy group that promotes digital assets and cryptocurrency along with distributed ledger technology innovation. The group was founded to help relations between bureaucrats in Washington and give them a better understanding of these emerging technological solutions brought forth by the Bitcoin network. Mark Wetjen is pleased to join the Chamber to help improve the financial landscape worldwide. Wetjen stated in the announcement:

“New technologies are creating tremendous opportunities to connect economies around the world, make markets safer and more efficient, and deliver services to consumers in novel ways. In particular, distributed ledger technology offers the industry a unique opportunity to drive targeted improvements to the financial market infrastructures that underpin the global capital markets,”

The Chamber had recently made headlines by giving Federal Reserve Chair Janet Yellen and 90 central banking colleagues from all around the world a perspective on this new technology. The event called “Finance in Flux: The Technological Transformation of the Financial Sector.” was held at the Federal Reserve building in Washington with the focus on cyber security, blockchain innovations, and fintech solutions. Wetjen’s firm the Depository Trust & Clearing Corp. is also a member of the Chamber alongside Microsoft, BitGo, USAA, Bitfinex, BitFury, Bitnet, Chain, ChangeTip, MecklerMedia, Mirror, Noble Markets, Overstock, RRE Ventures, Tally Capital, and many more.

Wetjen was also a commissioner at the Commodity Futures Trading Commission (CFTC) before working for the Depository Trust & Clearing Corp. The Chamber of Digital Commerce aims to leverage his expertise while providing research, data, and insight to “software companies, consultancies, financial institutions, and investment firms.” The DTCC is also exploring ways to utilize distributed ledger technology and how it may benefit trading and exchange sectors. DTCC states in the appointing of Mark Wetjen announcement that the firm has already “made significant advancements with a number of internal business use-cases and is currently working several proofs-of-concepts with the industry.” The Chamber of Digital Commerce looks forward to working with Wetjen to help this industry continue to flourish.


Source: WatersTechnology, The Chamber of Digital Commerce, and associated websites

Images: WatersTechnology.com, The Chamber of Digital Commerce  

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However, the founder is a continuing embarrassment and dangerously ill informed on the very subject she is promoting. The Chamber of Digital Commerce appears to be nothing more than a group of opportunistic charlatans promoting themselves to the industry and Government as a quasi-official authority. The “Chamber” appears to be promoting Blockchain snake oil to the uninformed. Simply google the founders name and her presentation to the Australian Government, as well as a recent soundcloud interview. It is truly troubling that this is the face of emerging eFin that may influence government regulation in the U.S.

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