The US State Department Comments On Blockchain Technology

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The_US-State-Department-Comments-On-Blockchain-Technology The US State Department Comments On Blockchain TechnologyAt the 4th Annual DC Blockchain Summit, a senior United States government official said that the country was closely monitoring global approaches to Blockchain technology. Conducted by Blockchain advocacy group the Chamber of Digital Commerce (CDC), the summit discussing domestic and coordinated international efforts around Blockchain, and featured a number of influential speakers across the U.S. politics.

Speaking on State Department’s standpoint on Blockchain and for other nations, the Acting Under Secretary of State for Economic Growth, Energy, and the Environment, Manisha Singh stated that other nations have to look at adopting light-touch and compatible regulations, where the rooms can open for the private sector to innovate and better the use of Blockchain technology. She further said that as the government, they do sometimes to help is stay out of the way. When comes to the State Department’s current role, Singh added that the agency is currently in the research phase, looking to better understand the technology, which is becoming a global phenomenon. It is necessary to better understand this cutting-edge technology, as it becomes more widely adopted in the country’s economy. Regardless of its disreputable patchwork approach to cryptocurrency regulation, the U.S. has driven forward with experiments in Blockchain technology in the number of spaces at the state level.

As part of 4th Annual DC Blockchain Summit, Chairman of U.S. regulator the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo even considered that Blockchain as likely mitigating factor in the 2008 economic crash. According to the reports, Blockchain spending in 2019 is projected at just under USD3 billion worldwide.