The Illinois Blockchain Association is a nonprofit membership organization advocating on behalf of Illinois’ blockchain and digital assets community. We serve as the unified voice for startups, entrepreneurs, academics, small business owners, and others who believe in the power of blockchain and related technology.
Mission
Since its founding in 2024, the Illinois Blockchain Association has organized its activities around education, advocacy, and community building. Serving as the primary voice for the state’s blockchain community, we aim to solidify Illinois as a premier destination for blockchain innovation, where founders and entrepreneurs can start and grow businesses, and where the industry is guided by sound public policy that promotes innovation, spurs growth, and protects consumers.
What We do
Blockchain 101
What is blockchain?
Blockchain is a revolutionary new way of building and fostering trust. At its core, blockchain is a peer-to-peer exchange hosted on an immutable public ledger. Blockchain permanently records digital asset transactions without the use of an intermediary, empowering users to transfer value in real-time while providing full transparency. Blockchain is the foundation on which digital currencies like Bitcoin function, but its underlying technology has the potential to power transformative change.
What are some potential applications for blockchain technology?
Blockchain technology will revolutionize every industry under the sun. Blockchain empowers real-time, cross-border payment transfers, facilitates peer-to-peer smart contracts, enables next-level transparency into supply chains, and puts the power of the global financial market at the fingertips of every person on earth, regardless of geography or socioeconomic status. Consider these use cases:
- The local artist earns extra income by selling her artwork via NFTs
- The small business owner on Chicago’s South Side who can access a global network of business investors through blockchain, unlocking new opportunities for growth
- The grocery store manager who, amid a national contamination event, can trace the origins of his corn to the farm, saving hundreds of thousands of dollars in loss product
- The independent craft brewery who gets 3% of his profit back every time a customer pays in digital currency vs. credit cards
- The medical patient who can verify the source and authenticity of online prescription orders thanks to immutable blockchain records
What is cryptocurrency?
Cryptocurrencies are digital currencies that are powered by blockchain; thus they do not require centralized intermediaries like traditional financial institutions. As a result, individuals have more sovereignty over their currency (e.g., with cash, you can’t access or transfer money on weekends or holidays). Millions of Americans are already using cryptocurrency, enjoying new levels of financial access and security.
Does cryptocurrency attract fraudulent actors?
Fraud is an unfortunate reality, and bad actors can utilize cryptocurrency just as they have traditional financial instruments like cash, checks, and credit cards to commit fraud. But to blockchains have built-in recordkeeping mechanisms that makes them highly traceable, which is an invaluable tool for law enforcement to protect consumers and thwart bad actors.
Policy Priorities
- Consumer Protection Framework
- Clarity on Regulatory Oversight
- Innovation-Friendly Legislation
- Defined Compliance Standards
- Accelerated Sector Growth
- Industry-Wide Best Practices
Position on HB 1797 – The Illinois Digital Assets and Consumer Protection Act (DACPA)
Who We Are
Leadership
Membership
Our members include founders, startup operators, academic institutions, individual and industry investors, legal professionals, small business owners, cryptocurrency enthusiasts, and others who believe in a digital future powered by blockchain and governed by sensible policy.
Become a Member
Join the growing coalition of blockchain and cryptocurrency leaders working to advance innovation-friendly policy in Illinois. Members receive exclusive updates on emerging policy issues, invites to events and roundtable discussions, and more.
Membership in the Illinois Blockchain Association is free, but your participation is invaluable.
Support the IBA
As a nonprofit membership organization, the Illinois Blockchain Association relies on support from industry partners to fulfill its mission. To donate to the IBA, please contact Nelson Rosario, Executive Director, at n.rosario@illinoisblockchain.org.
Contact
For questions, interview requests, or to get involved, please contact us at info@illinoisblockchain.org.
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