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A U.S. lawmaker needs the federal authorities to start contemplating a nationwide blockchain technique.

On Tuesday, U.S. Home Rep. Brett Guthrie (R-Kent.) launched a invoice calling on the Federal Commerce Fee (FTC) to survey the prevalence of blockchain applied sciences throughout trade, authorities and the globe. CoinDesk obtained a draft model of the invoice, HB6938, which is shared in full under.

If handed, the invoice, which had no cosponsors when referred to the Home Power And Commerce Committee, would give the FTC two years to conduct the survey and an extra six months to advise Congress on what it discovered.

Guthrie requires suggestions on state-level blockchain adoption, enterprise sector blockchain adoption, blockchain growth plans, danger mitigation methods, legislative frameworks and easy methods to consolidate probably prohibitive federal statutes.

The advice package deal would successfully define a complete blockchain technique for america. 

Some U.S. allies have already got such a framework, together with Germany. (The proposed FTC survey would give lawmakers a rundown of at the least 10 international locations’ blockchain methods’ relative to the U.S.).

However Guthrie’s predominant concern seems to be the clear chief of nationwide blockchain methods, and an adversarial one at that: China. 

“We can not let China beat us,” he mentioned in a press assertion. 

Staying a step forward of China has gotten solely extra essential within the age of COVID-19, Guthrie mentioned.

“The continued coronavirus pandemic has made it clear that we have to preserve American management in know-how,” he mentioned within the assertion. “America is a nation of innovation and enterprise – and we have to hold it that means.”

Learn the complete draft invoice under:

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The chief in blockchain information, CoinDesk is a media outlet that strives for the best journalistic requirements and abides by a strict set of editorial insurance policies. CoinDesk is an impartial working subsidiary of Digital Foreign money Group, which invests in cryptocurrencies and blockchain startups.

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