The leading global industry association for the blockchain technology ecosystem Global Blockchain Business Council announced a merger with world’s leading market standards association for the adoption of cryptocurrencies and digital assets Global Digital Finance (GDF).

At GBBC’s Blockchain Central at Davos the announcement was made. In this merger, both organizations combine their respective assets, resources, and memberships, thus creating the world's largest industry association for blockchain technology and digital assets. There will be nearly 500 institutional members and 178 ambassadors, operating across 95 jurisdictions and disciplines in the combined association. To further the adoption of blockchain GBBC will be engaging regulators, business leaders, and global changemakers on how to create more secure, equitable, and functional societies

GBBC claims to be the leading global industry association for the blockchain technology ecosystem. It will become the UK-based financial services division of the GBBC. Based in the United Kingdom GBBC Digital Finance will be renamed Global Digital Finance predominantly across EMEA and APAC. Five years after the GBBC was formed at Davos in 2017.

In a shared engagement forum with market participants, policymakers, and regulators, the GDF develops conduct standards to ensure the adoption of best practices for crypto-assets and digital finance technologies.

More than 350 industry professionals throughout the world have worked on creating the GDF codes of conduct. In the emerging crypto and digital assets ecosystem, it is the only global standard. In addition to GDF, GBBC has already established financial services initiatives such as the Post Trade Distributed Ledger Group (PTDL).

GDF Board Chair Lawrence Wintermeyer has been appointed to the GBBC Board of Directors. He added: “The rapid growth and viability of blockchain, crypto, and digital assets means there is a clear need for effective, harmonized regulation built on a robust global framework. David Treat, a Senior Managing Director and Global Metaverse Continuum Business Group & Blockchain Lead at Accenture, said that through the merger of GBBC and GDF significant developments will accelerate the use case and benefits of this transformative technology.

Indrani Bose

CBW - External Analyst

INDIA