The CFTC Fintech chief who handled early blockchain trials is set to go

The director of the U.S. Commodity Futures Trading Commission’s (CFTC) experimental fintech initiative is set to leave.
A statement released Friday says that the LabCFTC’s director and chief innovation officer, Daniel Gorfine, will be leaving his post in pursuance of a job in the private sector.

In his two years with the agency, Gorfine two years in the office got him spearheading the LabCFTC project, released educational materials on virtual currencies and as well launched an accelerator program to trial internal blockchain applications.

In this case, rather than set official policy, we can see that the educational primers published by LabCFTC discussed the history, characteristics, smart-contract technology, Case studies and also potential use-cases of blockchain.

In the second primer on smart contract for example, if properly deployed the protocols could reduce costs while boosting accountability and transparency, the agency said.

With the fast changing pace in the industry, it aims to help regulatory policy.
Gorfine demands lawmakers “not to steer or impede the development of this area of innovation,” this he said during a July 2018 hearing before the congress.

Speaking further on Friday’s CFTC statement, it was cited how he also formed collaborative arrangements and shared policy between the CFTC, UK Financial Conduct Authority, Investments Commission, Australian Securities and the Monetary Authority of Singapore.

According to Heath P. Tarbert , the CFTC Chairman said in the statement:
“, LabCFTC has established itself as a model for regulatory engagement with emerging technologies, this was achieved with Dan’s vision and the support of the Commission”

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The concept of Stablecoin and Cryptocurrency

 

Credit: Daniel Kuhn

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