What can we expect from the American Congress blockchain talks

What can we expect from the American Congress blockchain talks

Two subcommittees of the US House of Representatives will discuss possible applicability for blockchain technology in government institutions during hearings Wednesday.

“More than Bitcoin – Emerging Applications for Blockchain Technology” is scheduled to begin on Wednesday at 10am (eastern coastline in America). It is most likely to discuss technology at sea – a first step before taking concrete action. The speakers will explain the basics of technology before talking about how it can be used, according to Brandon VerVelde, spokesperson for the committee.

Speakers will represent both the private sector and government agencies with experience in the field.

Help comes from the Committee on Science, Space and Technology, who will oversee hearings. They said that only technology is being explored and that discussions will not necessarily go to the legislative or regulatory area.

Ver Velde said that “any possible future action of the committee will be based on these discussions.”

The commission that will make the hearings is still not sure what are the government bodies to take advantage of blockchain technology, according to Ver Velde. That being said, the lawmakers came up with some ideas about the application of blockchain technology in the federal government.

Discussions are in a positive note

It remains to be seen what kind of questions the members of the subcommittee will ask. But the House representatives said I was open minded to discuss the applicability of the new technology.

Congressional representative Clay Higgins noted that the blockchain can be applied to digital information sharing. “It is important to continue to look for the most innovative digital transactions securing processes and to ensure the integrity of the data,” he said

And Congress Speaker Roger Marshall spoke about possible uses in cyber security, specifically talking about privacy, especially in the medical field.

The Blockchain has many applications that can develop security, better serve consumers and streamline government processes,” commented Randy Hultgren, another representative of the congress.

Most likely, speakers will give details about their blockhouse experience in their own companies. These include Walmart Food Security Vice President Frank Yiannas, who will discuss attempts to track food on a blockchain based system.

IBM, Walmart’s partner in this project, also has a hearing representative, Jerry Cuomo, vice president of blockchain projects. It will explain what they learned when they built their own blockchain platforms.

We think there will be many applications for blockchain technology as businesses experience and refine new uses. Many of them can also be used by the federal government, from protecting sensitive government information systems and managing risk to supply chains, “VerVelde commented.

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