The US and Australia are interested in blockchain

The U.S. Commodity Futures Trading Commission (CFTC) has lately become the source of two news that might prove interesting for cryptocurrency enthusiasts and traders. J. Christopher Giancarlo, chairman of the CFTC, made it clear that the blockchain technology is in the national interest of the United States. He has also demonstrated a level of self-criticism unseen in many other countries: “We're still very much an analog regulator of digital markets.” “In fact, our rules were designed for markets that don't exist anymore, and we need to update them,” he stressed.

These remarks were made at a meeting of government tech managers in Washington, D.C. Good to know that the CFTC desires to avoid Namibian scenario – as our readers might remember, in this country cryptocurrency trade was banned with the use of a law from 1960s.

Later, the commissioner from the same governmental body shared the sentiment of the chairman and told that DLT would cause a “sea change” on the market due to its big decentralization opportunities.

In other news, the government of Australia, too, wants to develop blockchain technologies even further, as seen in the latest document by the Australian Department of Industry, Innovation and Science. It correctly calls the distributed ledger technology a horizontal platform and states that along with machine learning advancements, it will increase market productivity and optimize economy in general. The document comes amidst the recent news on long-anticipated cryptocurrency “double tax” lift.

As one can see, while some states and market actors openly express skepticism on cryptocurrency, they are much less skeptical about the blockchain tech. And this is good, because as more and more people, especially officials from governments across the globe, study blockchain, they will eventually come to realize that cryptocurrency can be trusted.