DLT in DC: Senate interviews experts on blockchain properties

Another parliamentary discussion has been held in the United States, and this time the topic was dedicated to the technology that underlies cryptocurrencies rather than any digital currency itself. The members of the House of Representatives participating in two subcommittees related to technological advancements listened to the opinion of various experts who worked with blockchain or doing it right now.

For example, Jerald Cuomo from IBM called for very careful regulation of the blockchain technologies sphere and tried to send a message to the Trump administration that blockchain does not necessarily involve cryptocurrency. Frank Yiannas from Walmart told about a practical example of how exactly blockchain optimizes business: food tracking that previously took a week has been conducted in 2.2 seconds.

The senators, in turn, have confirmed that the blockchain is indeed a prospective technology, especially in the areas of cybersecurity and privacy. One of the governmental figures asked the experts if any blockchain could be destroyed by the electro-magnetic pulse, to which one of the researchers responded that this indeed can happen, but it is a very specific scenario, and in other cases it would not be easy to destroy a blockchain.

The overall tone of the discussion was positive, not unlike the previous hearings related to cryptocurrency.