On Wednesday February 14, the United States’ House of Representatives might have a sitting on the love story of blockchain; the fundamental platform for the operation of infamous bitcoin and its altcoins. This meeting by the use of two of the House’s sub-committees is to speak about on lots of the doable applications which may be created inside the government with the utilization of blockchain technology.
The dialogue by the use of Congress which is dubbed “Beyond Bitcoin: Emerging Applications For Blockchain Technology” is scheduled for 10 a.m. EST these days. The dialogue will quilt further on the enormous nature of the technology that has been making the headlines not too way back – an preliminary switch supposed to start any enterprise that may focal point on the possibilities of the technology.
Congress Listens To The “Experts”
According to Brandon VerVelde, the committee’s spokesperson, these days’s dialogue might have people presenting on how the technology functions or its fundamentals and the way in which it might be used or built-in into numerous fields or human lives. The people or panellists to be speaking these days might be people from government companies along with the private sector who’ve in depth knowledge, capacity and luxuriate in inside the technology and its field of analysis.
The Committee on Science, Space and Technology, which might be overseeing these days’s listening to have educated that this dialogue is just a quest to find the very nature and assemble of the tech that powers bitcoin and totally different cryptocurrencies nonetheless in itself greater than all of them. Thus said, the committee mentioned that this isn’t the beginning of any process to regulate or cross any kinds of legislations on the technology.
Moreover, the committee isn’t very educated as to which governmental our our bodies the place going to undertake the model new tech. VerVelde mentioned that
“any doable future committee movement on the matter might be educated by the use of the listening to…We contemplate that there might be many new applications for blockchain technology as firms experiment and best possible new makes use of, numerous which can be utilized by the federal government, from protecting Americans’ delicate information on government strategies to supply chain chance management, “
Most Of Congress Is Not Averse To The New Tech
It continues to be not sure as to the character of questions that are going to be requested in Congress these days, alternatively most contributors of Congress expressed their feelings and shared their concepts on numerous areas they believed blockchain could be utilized.
Congressman, Roger Marshall (R-KS) mentioned that the tech could be utilized inside the area of net security, stating specifically its use in ensuring data privateness inside the healthcare sector for instance.
Congressman Clay Higgins (R-LA) moreover pointed to the potential for block Hain getting used for digital information sharing when he mentioned in an interview that
“it’s important that we continuously search for the most innovative processes to secure digital transactions and ensure data integrity. The hearing will look into those potential applications”
It appears that Randy Hultgren (R-IL) moreover shares the same view alongside together with his fellow Congressmen when he moreover states
“Blockchain has a number of applications that can increase security, better serve consumers and bring efficiency to government processes.”
Industry Analysts Share Their Views And Experiences
Walmart’s Food and Safety vice chairman, Frank Yiannas may be sharing with the House the company’s stories in attempting to utilize blockchain to hint its meals items.
IBM’s blockchain vice chairman, Jerry Cuomo may be sharing the tech huge’s stories within the utilization of blockchain as a result of it has its private blockchain platform proper now.
What are one of many important conceivable conclusions could come to these days from this meeting Share your views and evaluations and inform us what further of what you suppose. Join the dialog and proportion with the Coinstaker group by means of Telegram.
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