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Crypto Action Task Force Formed and Needed to Tackle the Quadriga Crisis
Traders Magazine Online News, March 1, 2019
CRYPTO ACTION TASK FORCE: WHO IS THIS FOR?
Crypto Action Task Force (CATF) is for those of us who are all in this for the long haul. This is a call to arms for those who believe we must work together and invest in the future, credibility, and legitimacy of the industry, and share tools and expertise to ensure the entire cryptocurrency ecosystem thrives.
Take action: If you’re interested in being part of the solution and building out frameworks and tools that will help rebuild the integrity of the industry, to make this incident the last of its kind, please join the community effort to coordinate next steps here: http://bit.ly/crypto-task-force
It’s time to pool our collective resources and tech stacks and unite the ecosystem and community to rebuild trust. For our part, Shyft has pledged to:
- Allocate resources, technology and internal expertise towards helping the exchanges and users trace the historical transaction information (with customers’ consent) to weed out fraud, while maintaining user privacy
- Make our tech modules available to all exchanges involved in the effort to help untangle the web of transactions Quadriga has left behind
- Coordinate a collective task force to bring together the best technologies and future-proof the industry to set standards for balancing risks and user protection
WHY?
In light of the recent news regarding QuadrigaCX, we’ve spent the past few weeks talking with affected users as well as exchanges, wallet providers, lawyers, compliance teams, and payment processors to get a deeper understanding of the destruction left in Quadriga’s wake. What has quickly become apparent is that nobody has all the answers; instead, we have different players in the ecosystem left holding pieces of the puzzle.
The Quadriga fiasco should serve as a pivotal call to action. We call on global exchanges, payment processors, and all affected parties to come together, debrief on what has happened, and show the world that we build with a conscience. We can’t let any one group become a permanent stain on the industry’s reputation. It will take coordinated, proactive efforts to restore confidence in advance of future regulation. The legitimacy of the industry is at stake.
If you’re interested in being part of the solution and building out frameworks and tools that will help with the disaster recovery, together, to make this one the last, please join the community effort to coordinate next steps here: http://bit.ly/crypto-task-force
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