U.S. House of Representatives Meet to Discuss Blockchain

Avatar CryptoCaleb | May 4, 2018 94 Views 0 Likes 5 On 3 Ratings

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On February 14, 2018, The U.S. House Committee of Science, Space and Technology met to discuss the general benefits and implementation of blockchain technologies. Apart from the detail, all five speakers (including Frank Yiannas: Vice President of Walmart Food Safety, and Jerry Cuomo: IBM Vice President of Blockchain) were extremely excited about the current and future use of the technologies discussed. Aaron Right, one of the representatives of the hearing spoke fondly of blockchain’s democratic characteristics stating the technology  “secur[es] scarce digital assets called tokens, powering new forms of crowd funding; therefore, sale of tokens could democratize access to capital”.

It appears that since the last hearing, representatives have grown more and more curious about blockchain. Following the last junction in february, the committee plans to meet for the second time on May, 18th. The hearing was called under the title “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods”. This implies the nature of their meeting however, not the specifics of implementation.

Considering the history between blockchain and supply chain management and its recent application within present corporations, it can be speculated that the committee will find its technologies beneficial. May, 18th may be a significant achievement for blockchain technologies. As more representatives of local, state, and federal governments see the opportunity in this technology, the further and stronger it will grow. If the committee’s upcoming meeting can follow its positive trend, then it seems likely of such an outcome. To stay updated on the hearing and current events, check out and refer to our page for daily news!

To see a closer look at the hearing you can visit https://youtu.be/VptsprY6qPI

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Written by CryptoCaleb