Doris Matsui and Brett Guthrie, two US representatives, have recently introduced a bill named Blockchain Promotion Act Of 2018. The goal of the edict is to work on a common definition of the Blockchain and study its impacts.
A bill that seeks to define the Blockchain
If the bill of the two representatives is not the first draft legislative Blockchain in the United States, it proposes a specific solution, an invitation to study the Blockchain in a uniform manner. The problem of crypto-money and Blockchain lies above all in a misunderstanding, or particularly a war of definition, leading the different entities to perceive in several ways the advantages and faults of the Blockchain.
This law HR6913 would encourage the institutions concerned to create a working group that would be responsible for defining the Blockchain. The National Telecommunications and Information Administration and the Federal Communication are invited to study Blockchain interference.
Towards an understanding of the Blockchain
Blockchain support from members of Congress has been gaining momentum in recent times. For example, Tom Emmer, the US representative for the Sixth Minnesota Convention District, has embarked on an Administration lobbying campaign on the benefits of this technology .
In a similar perspective, the HR6913 or Blockchain promotion Act of 2018 project encourages Congress and the government to adopt the Blockchain as an effective tool for the political, economic and social ecosystem . Matsui declares:
“Blockchain technology could transform the global digital economy, Blockchain’s deployment capabilities range from dramatically increased transparency, efficiency, and security in supply chains to more opportunistic management.”
To this end, the positive impact of the Blockchain is a satisfactory motivation for both representatives. However, this step is not accessible without having a concrete and common idea of the concept, too, Guthrie explains:
“The Blockchain can be a great resource for innovation and technology, but we need to determine exactly what is the best common definition and how to use it.”
What do you think of this bill by Guthrie and Matsui? Give us your opinion in the comments section.