On Nov. four, Davidson published a letter in the Wall Street Journal in response to an Oct. 24 report on automation in manufacturing. The congressman urged the U.S. authorities to encourage innovators to remain in the nation. The letter learn:
“If we allow fear to stifle their efforts, we risk surrendering global superiority and sacrificing improvements in quality of living.”
Rust-belt woes in the face of adjusting manufacturing
The report back to which Davidson was responding centered on considerations that robots and synthetic intelligence have been taking jobs from U.S. employees. Commenting on manufacturing in the Midwest, it reads:
“[T]here is compelling evidence that factory automation swung three key Rust Belt states — Michigan, Wisconsin and Pennsylvania — in favor of Donald Trump in the 2016 election.”
Davidson’s letter expressed comparable considerations that Americans have been letter fears in the face of blockchain innovation prematurely shut down the market.
Davidson — who represents Ohio’s eighth district and is a member of the congressional metal caucus — is optimistic that the enhancements crypto know-how can convey to manufacturing will outweigh the cons. He advised Cointelegraph:
“From improving capital formation, supply chain logistics, reinventing shop floor operations, product identification and traceability, U.S. manufacturers could stand to harness the power of blockchain to unleash incredible innovation and manufacturing growth.”
Sharing skepticism about Facebook’s Libra undertaking
In the letter, Davidson emphasised that quite a lot of industry-related corporations are already transferring in international locations comparable to Switzerland, searching for a pleasant regulatory ecosystem.
While sharing a few of his colleagues’ skepticism about Facebook’s proposed Libra undertaking, Davidson claimed that he treats their concern of blockchain and crypto “shortsighted.” According to Davidson, by deterring initiatives in the , the U.S. authorities dangers is “surrendering global superiority and sacrificing improvements in quality of living” simply in order to protect the established order.
Davidson urges passage of the Token Taxonomy Act reintroduced in April
In a tweet on Nov. 5, Davidson expressed hope that his colleagues in the House Committee on Financial Services can discover a method to combat their concern of blockchain in order that the U.S. can “maintain technological and economic dominance.” Urging passage of the Token Taxonomy Act, reintroduced in April 2019, the congressman wrote:
“In the midst of technological change, consumers, innovators, and investors need regulatory certainty to keep America’ economy working for them. FinTech is just one example…”