Warren Davidson (R-OH) – US Congressman and a crypto enthusiast – has reportedly urged involved departments to come up with proper regulations for blockchain, to keep the US economy in its dominant status.
Specifically, on November 4, Davidson has composed a letter, published on Wall Street Journal, to address concerns raised by a report on October 24, regarding automation in manufacturing. The US Congressman has one more time, called for extensive efforts from the US authorities, to establish pro-crypto regulations to keep innovators in the nation.
“If we allow fear to stifle their efforts, we risk surrendering global superiority and sacrificing improvements in quality of living.”
Davidson – Ohio’s 8th district Representative and a part of the congressional steel caucus – strongly believed that the positive effects crypto-related tech advancements can have upon manufacturing will be enough to cancel out the disadvantages.
“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.” Davidson further remarked.
Davidson also notified that several businesses in the crypto field are beginning to transfer their systems offshore, to Switzerland nominally, to operate in a more regulation-friendly crypto ecosystem.