Rep. Kevin McCarthy is the US House Of Representatives Republican Minority Leader and he recently declared that blockchain technology can make the congress a more transparent and efficient place.
In a statement made in front of the Select Committee for Modernization of Congress, Kevin McCarthy said:
Blockchain is changing and revolutionizing the security of the financial industry. Why would we wait around and why wouldn’t we institute blockchain on our own, to be able to check the technology but also the transparency of our own legislative process?
McCarthy also made the suggestion that the US Congress should use twenty first century technology in order to increase the friendliness of the government, all while increasing accountability. His conclusion was:
We have an opportunity to take this window to make this place more effective, more efficient, and most importantly, more accountable.
The time of the statement is really interesting because Representatives Brett Guthrie and Doris Matsui proposed a bill in October, “Blockchain Promotional Act 2018”, in front of the US House of Representatives. That bill tried to create a group that would study blockchain technology impact in policy creation while also establishing technology common definition.
We also saw that Wyoming passed not one but 2 blockchain bills. The first one laid the foundation of storing certificate tokens that represent stocks with the use of blockchain technology, all while allowing digital transfer. The second one established special purpose depository institutions in order to serve the businesses involved in blockchain technology.
Having a Republican offer support for blockchain technology is something that few people expect so this is definitely worthy news. Whether or not this would lead to something is something to see in the future.
Image Editorial credit: Jaguar PS / Shutterstock.com
