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Government partnerships could see cryptocurrencies go mainstream
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Government partnerships could see cryptocurrencies go mainstream

If there is one thing that the recent breakneck rise of Bitcoin this year has shown, it is just how popular it is becoming. More and more people are seemingly getting involved with this and other Blockchain based digital currencies. As this happens and digital currencies evolve over their lifetime, it will see a real march into the public consciousness and mainstream acceptance. [caption id="attachment_5992" align="alignright" width="300"] Image from Flickr[/caption] Government partnerships helping with this One sure-fire way to increase the use and widespread acceptance of cryptocurrencies is by teaming up with governments, which is exactly what one Blockchain firm has done. ConsenSys recently partnered with the US Department of State to organise an event called the Blockchain State Forum. It is perhaps no surprise that this firm leads the way in this regard as the CEO is the co-founder of Ethereum, Joseph Lubin. Forum to stay abreast of latest Blockchain developments The recent Blockchain State Forum was designed to bring various government and private agencies together so it could be discussed how Blockchain technology could be used and developed further for implementation in various sectors. The forum also looked at potential applications and policy implications for the US Government of using Blockchain based technology. Notable private sector organisations in attendance were reported as IBM, Microsoft and PriceWaterhouseCoopers. Latest event in a wider initiative The Blockchain State Forum was just the latest event in a wider Blockchain State Initiative in America. The overall initiative has been set up to showcase various events and meetings that will help decide how best to utilise Blockchain technology in the business or government world. The big hope behind it is that it will convince the government of the opportunities this new technology brings as well as inspiring partnerships between all parties involved. The ability to not only have dialogue with government officials but also major private sector companies could be vital to the march into the mainstream for digital currencies.

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Frankie Crowhurst

The cryptocurrency market is slowly picking up again after a pretty poor performance this year, and is having a positive effect on all crypto coins.

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