Republican House Member Proposes Government Blockchain Research
14 Marzo 2019 - 5:19PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
March 14, 2019 -- ADVFN Crypto NewsWire -- When Satoshi
release the original Bitcoin whitepaper, it is fairly safe to say
that he had no intention of it or even the blockchain, being used
by a government to improve its’ operations. Cryptocurrencies sprung
from a desire to change the traditional systems that determine how
we transact with each other and businesses overall.
Even so, given the blockchain
industry’s natural evolution into a powerful, yet still open-source
driven community, interest and investments by governments into the
blockchain were always inevitable.
Some have been extremely
controversial like Venezuela’s creation of the Petro currency and
some seem to have worked out well for all involved like Estonia’s
efforts with e-residency solutions. One country that seems to have
been relatively hesitant to get involved in a major way is the
United States, beyond making a large-scale effort to clarify its’
regulatory opinion on cryptocurrencies across all levels of its’
governmental structure.
Despite this, just about every US
regulatory agency seems to have a slightly different opinion on how
to treat cryptocurrencies according to existing laws. Therefore,
what is quite surprising is the news that broke today regarding the
United States House of Representatives and the
blockchain.
CoinDesk has stated that Kevin
McCarthy, who is currently heading up the Republicans in the House
of Reps., has introduced the idea that the blockchain could be a
useful tool for streamlining government operations on a
large-scale. In his explanation of why this is the case, he
mentioned a few key cases of how choosing to adopt new technologies
have changed the government for the better, like instituting a “bug
bounty” program for the Department of Homeland Security.
While this idea was just announced
and thus, has gained little traction up to this point, it will be
interesting to see what comes of it. Will the United States
government fully adopt the blockchain for itself while closing the
door on it and cryptocurrencies for the average person?
By: BGN Editorial Staff
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