The US congress has filed the bill for the promotion of Block chain technology in congress and it is soon gaining momentum. Bill House Resolution 6913 or Bill H.R. 6913, The “Blockchain Promotion Act”, aims to provide a consensus definition of block-chain
If passed, the bill will create the group that will study the technology working on Blockchain. The study will ultimately be deciding on the definition for purposes of the government. In the creation of a consolidated definition from the congress, the goal is to avoid a patchwork of definitions from different states. In addition to creating a definition, they are also looking into the scalability of this emerging industry.
It will also be making recommendations to the National Telecommunications and Information Administration and the National Telecommunications Commission. The study will show how it can be used for the benefit of the administration.
The working study group is said to have consulted with companies like IBM and Intel, which are investing heavily, in block chains. IBM, however, is downplaying its involvement. In a statement from IBM, they mentioned that “Given our deep expertise in blockchain, IBM regularly engages with members of Congress to explore policy that would harness the technology to drive economic development and competitiveness. We do this independently as well as through industry and trade associations, and we have not yet endorsed any specific bill,”
Intel has not responded to questions but has release a tweet from their corporate account. In the tweet they thanked Matsui, Guthrie, Young and Mackey for their leadership with the introductionBill H.R. 6913 is a bipartisan bill sponsored by Doris Matsui of California and Brett Guthrie of Kentucky, a Democrat and a Republican respectively. At the side of the senate, the bill is sponsored by Democrat Ed Mackey of Massachusetts and Republican Todd Young