Discover Joins The Chamber Of Digital Commerce Executive Committee

The Chamber of Digital Commerce announced news on Tuesday (April 17) that Discover Financial Services, the payments company, has been added to its executive committee.

In a press release, the Chamber of Digital Commerce said that as part of the executive committee, Discover will help educate, promote and accelerate the use of blockchain technologies around the globe. The Chamber of Digital Commerce noted that in March, it along with Discover hosted Discover Blockchain Technology, which was a so-called blockchain code-a-thon that included more than 200 participants focused on creating solutions in payment processing, regulatory technology and digital identity based off blockchain technology.

“The Chamber of Digital Commerce has developed an impressive platform of industry-leading innovators,” said Joe Bonefas, VP — Business Technology: Strategy & Innovation at Discover, in a press release announcing the company’s participation. “We are pleased to join the Chamber and [are] looking forward to further exploring how we can achieve a brighter financial future through the power of blockchain.”

The Chamber of Digital Commerce is the world’s largest trade association representing the digital asset and blockchain industry. Perianne Boring, founder and president of the Chamber of Digital Commerce said in the same press release that the group is “thrilled” Discover is joining the Chamber’s executive committee.

“As a globally recognized leader in payment processing networks, Discover’s expertise and commitment to innovation will strengthen the Chamber’s team of more than 160 member companies dedicated to advancing blockchain-based technologies,” Boring said.

Discover’s move to join the efforts to promote blockchain technologies comes as KPMG Head of Tech Growth Patrick Imbach spoke with reporters at IT PRO, telling the publication that blockchain won’t have a tangible impact on the market until at least next year. “It was hype in 2017; it will remain hype,” he predicted. “I hear loads of chatter about blockchain, in particular in the U.K. Whilst everyone acknowledges the potential, I think it’s very early stages — we’re at the hype stage.”

The sentiment is a sharp diversion from separate analysis and commentary largely pinning 2018 as the year that working blockchain applications and solutions will roll out onto the market.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.