Rep. Kevin McCarthy, the present Republican Minority Leader within the United States House of Representatives, said on Tuesday, March 12, that blockchain could make the U.S. Congress a extra environment friendly and clear place.
Speaking to the Select Committee for Modernization of Congress, McCarthy mentioned that blockchain know-how has modified the paradigm of safety within the monetary world:
“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?”
The lawmaker additionally urged that Congress use “21st century technology” to make the government extra pleasant, however on the identical time extra accountable. “We have a possibility to take this window to make this place more practical, extra environment friendly, and most significantly, extra accountable,” he concluded.
McCarthy grew to become a member of the U.S. House of Representatives in 2007, serving as House Majority Leader from 2014 to 2019, and as House Minority Leader since January 2019.
The Select Committee for Modernization of Congress was established in the course of the 116th Congress in early 2019. Democratic congressman Derek Kilmer chairs the committee, which varieties suggestions for modernizing the legislative department.
As Cointelegraph reported in October, U.S. Representatives Doris Matsui and Brett Guthrie proposed a brand new invoice, dubbed the “Blockchain Promotional Act 2018,” to the House of Representatives. The invoice aimed to create a working group to review the potential impression of blockchain throughout the coverage spectrum, and to determine a standard definition of the know-how.
More lately, the state of Wyoming passed two blockchain-related payments. The first laid groundwork for storing so-called certificates tokens representing shares on a blockchain “or different safe, auditable database,” and permitted their digital switch. Another acknowledged the institution of particular function depository establishments to serve blockchain-related companies, as they’re typically unable to obtain providers from federally-insured banks.