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Algorand is joining wall street blockchain alliance

By Inkarias - 2020-04-28

The Wall Street Blockchain Alliance, commonly named WBSA is a non-profit trade association created for financial market professionals and by financial market professionals. The finality of the group is to simply guide and promote the comprehensive adoption of blockchain technology and smart contracts across financial markets. In order to fulfill that vision, WBSA is constantly engaging with market participants, regulators, policymakers and technology innovators through direct communication, comment letters, studies and more to guide the public dialogue about blockchain, distributed ledger and smart contract technology. The Wall Street Blockchain Alliance announced on April 23 that the proof-of-stake cryptocurrency platform, Algorand, has joined their alliance as a corporate member. By joining this new opportunity, Algorand is now teaming up with many tech and finance companies that are working with the WSBA with the end-goal to exploit the potential that blockchain technology offers for financial markets across the world for various applications.

A great opportunity for both parties

Ron Quaranta, Chairman of the WSBA shared that the technology offered by Algorand project meets the standards of what the group is looking for in the future, especially blockchain adoption across financial markets:

“Founded by world renowned computer scientist and Turing Award winner Silvio Micali, whose work is at the heart of modern-day cryptography, Algorand presents a permissionless Pure Proof of Stake technology that will be instrumental in the development of a decentralized, borderless economy.”

In the meantime, Algorand chief operating officer W.Sean Ford shared that WSBA is taking a unique and groundbreaking approach by bringing together leaders in the industry to offer the best solutions in that field. He also commented that “With recent accelerated adoption across open finance, traditional finance, and central bank digital currency initiatives, Algorand is well-positioned to bring a fresh perspective to alliance members. I look forward to our participation with this prominent group.”

The details on this new partnership can be read at https://www.algorand.com/