As a report on Mar 15, blockchain technology can provide more efficient and trustworthy to the US Government, said Kevin McCarthy, the current Republican Minority Leader in the United States House of Representatives.
In a speech before the Select Committee for Modernization of Congress, McCarthy said that blockchain technology has innovated the security of the financial industry.
“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?”
McCarthy also gave examples of how adopting new technologies and new bills in the past has helped fasten government processes. These legislations include the Tested Ability to Leverage Exceptional National Talent (TALENT) Act, a Bug Bounty program for the Department of Homeland Security and Veteran Employment Through Technology Education Courses (VET TEC).
Significantly, he offers that Congress adopt “21st-century technology” to bring out the more favorable, but at the same time more responsible government.
“We have an opportunity to take this window to make this place more effective, more efficient, and most importantly, more accountable,” he concluded.
Back in January, the US government has reportedly been launching a new bill that can provide transaction exceptions for firms not keeping their customers’ coins, to support crypto startups who have difficulties with state-level transmission laws.
More recently, the lawmakers from the State of Colorado has put into law the “Colorado Digital Token Act”, which exempts cryptocurrencies from state securities laws and opens its doors to blockchain-related firms, The Crypto Sight reported on March 14.