Matsui, Young Lead Refiling of Blockchain Promotion Act
House Communications Subcommittee Vice Chair Doris Matsui, D-Calif., and Sen. Todd Young, R-Ind., led refiling Tuesday of the Blockchain Promotion Act. The bill, previously filed last year, would direct the Commerce Department to create a working group of federal and…
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private sector stakeholders to establish a common definition of blockchain. The working group also would make recommendations on a joint FCC-NTIA study to, in part, examine blockchain's potential impact on spectrum policy. Sen. Ed Markey, D-Mass., and Rep. Brett Guthrie, R-Ky., also signed on as lead co-sponsors. “Opportunities to deploy blockchain technology range from greatly increased transparency, efficiencies and security in supply chains to more-opportunistically managing next generation broadband networks,” Matsui said. “Blockchain has the potential to be a catalyst for sustained economic growth across all industries in America,” Young said. “If America leads in its development, we can ensure that it’s benefits will be shared far and wide.”