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Chia Network Joins the Blockchain Association to Amplify Policy Efforts

·3-min read

SAN FRANCISCO, May 18, 2022--(BUSINESS WIRE)--Chia Network Inc. ("Chia" or the "Company"), founded by Bram Cohen to provide an open source public blockchain optimized for real-world adoption, today announced its membership in the Blockchain Association, a member-led industry association supporting future-forward and pro-innovation policy and regulatory frameworks for blockchain and the crypto economy.

Chia seeks to serve as a compliant infrastructure for the future of finance, and together with the Blockchain Association, build regulatory and institutional trust through demonstrated security, sustainability, equitable access, and inclusivity. The speed and breadth of adoption of blockchain technology and cryptocurrency highlight the necessity of mutual education, meaningful dialogue and collaborative efforts with policymakers. The industry comprises a broad set of organizations, each focused on their respective work and needs – the Blockchain Association provides a valuable forum for alignment and a central locus of external representation.

Through its membership, Chia will participate with the most prominent industry coalition in regulatory analysis and insight, and gain a platform to amplify the continued growth, development, and application of the Chia blockchain and technologies. Additionally, Chia will continue to represent the needs of its farmer and developer communities within the industry and to regulatory stakeholders.

"We’re stewarding one of the most decentralized blockchain networks and communities in the world, and we believe it’s incumbent upon us to provide education and input to policymakers from an industry perspective and equally important to solicit feedback," said Gene Hoffman, President and Chief Operating Officer of Chia Network. "We’re driving real-world use cases with our technology, initially serving multilaterals focused on Climate Finance, and the Blockchain Association provides a platform to connect with industry peers and policymakers. The future of global finance is being created, regulated, and litigated today – and our work together ensures Chia’s voice is heard."

"We are pleased to welcome Chia Network as a member of the Blockchain Association," said Kristin Smith, Executive Director of the Blockchain Association. "Chia is leveraging new innovations in blockchain technology to build a network optimized for the future of finance. Chia’s commitment to security and sustainability in the development of its open source network make it a significant addition to our unified industry voice."

About Chia Network

Chia Network built a better blockchain to drive real-world use and application. Founded by Bram Cohen, inventor of BitTorrent, Chia provides a secure, sustainable and regulatory compliant blockchain setting the standard for the infrastructure of digital currency and inclusive access to global, decentralized finance. Through the innovative Proof of Space and Time consensus algorithm, Chia Network’s public, open source blockchain leverages hard drive space to create the first new Nakamoto Consensus since Bitcoin in 2009.

For more information, visit: https://chia.net/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220518005432/en/

Contacts

Media Contacts:
FTI Consulting
Dan Margolis & Parveen Singh
E: Chia@FTIconsulting.com

IR Contacts:
Gretchen Lium
Head of Investor Relations
E: gretchen@chia.net

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