Behind the Request
The seven-member group that is responsible for making the request mentioned above includes Trey Hollingsworth, Ted Budd, Josh Gottheimer, Bill Foster, David Schweikert, Darren Soto, and Tom Emmer, all congressmen.
On the other hand, the council to which the request has been presented, that is, the US National Economic Council acts as the chief body through which the administration considers matters of economic importance in the country and frames relevant policies.
The letter was addressed to Lawrence Kudlow, and it presented before him the request of the administration, through the National Economic Council to ‘hold a forum on blockchain technology and include blockchain technology in the initiatives the administration intends to promote on emerging technologies.’
The letter went on to highlight the various benefits and advantages of the blockchain tech, stating that it contained in itself the potential to transform a number of industries.
The letter further read that though the government was exploring the technology in many ways, there was room for more improvement, especially in the areas of law and regulation. Suggestions for bringing about improvements were also made including steps like engaging policymakers, promotion of research, and discussion of potential regulatory approaches.
A conclusion was brought on the note that since the blockchain technology was still an emerging one, it was the need of the day to connect the stakeholders for examining policy issues and supporting a shared vision for which a forum for stakeholder input would prove to be very useful. This year and the last one has seen a number of blockchain summits, forums and conferences around the world, including in countries like Malta and UAE among the others.