U.S. Congress and Senate push for blockchain technology training

Rage Comment : Blockchain technology has a wide impact in the world, and no organization or country can ignore its existence. To win in this technology competition, measures must be taken early to seize the initiative. However, according to a report by U.S. Congressman Schweikert, only six or seven people in U.S. government agencies truly understand blockchain technology, which is very unfavorable to the development of the U.S. economy. In order to change this situation, they jointly promoted government personnel to learn blockchain knowledge.

Translation: Annie Xu

It’s no secret that U.S. interest groups and lobbyists can influence government decisions. And no interest group is wealthier than financial institutions. U.S. Rep. David Schweikert, R.-Arizona, has called for technical training for U.S. House members by experts and technology enthusiasts before the deep-pocketed lobbyists of old-line banks kill the development of blockchain technology.

A handful of Washington officials support blockchain

Representative: David Schweikert

On March 3, the Washington Blockchain Summit opened at Georgetown University's McDonough School of Business. Congressman Schweikert delivered a speech at the summit, and attendees included private chain and Bitcoin entrepreneurs, federal government officials, financial executives and pundits.

Congressman Schweikert is arguably the most forward-thinking person in Congress, and he has been consulted on the subject of Bitcoin since at least 2014.

Two years ago, he was still full of concerns and fears about Bitcoin, but now he has begun to actively promote blockchain technology to more fields. The financial market is full of corruption, waste, and high profits, and blockchain technology is the best choice for subversion.

Why spread blockchain technology knowledge?

The U.S. Congress and Senate have many ways to deal with the rapid changes in the world. Of course, active or passive is one of the attitudes of these elected officials in dealing with new technologies. Blockchain technology is spreading rapidly. Once it attracts the attention of the government, it becomes particularly important to know what kind of obstacles the blockchain will encounter from the U.S. government.

Some other congressmen and senators have at least stepped up to actively promote an open and sincere attitude towards digital currency, Bitcoin and blockchain. However, Congressman Schweikert believes that only six or seven people in government departments have knowledge of blockchain, and this knowledge vacuum is worrying. Because he predicts that in the future, those financial vested interests will rush in to control blockchain and maintain domestic and foreign market share.

Legislative bodies should be open and transparent

Pundits have given blockchain many definitions, including a revolution like the Internet. No matter how much impact blockchain has on applications, the standard of measurement should be its significance to the world. American politicians are notorious for fishing in troubled waters. They have never been willing to accept anything decentralized and have taken a vague attitude towards the legality of disruptive business models. They have drawn a large gray area around Airbnb, Uber, and even the legalization of marijuana in individual states.

Emerging markets are always fertile ground for corruption, just as are large corporations. However, stifling innovation or doing nothing is not an acceptable attitude.

Blockchain technology itself is a way to maintain transparency and reliability. There is no need for a trusted regulator or code of ethics to ensure the safe operation of the system. Despite the controversy of employees losing their jobs or businesses closing down, it can truly benefit the people rather than let individuals manipulate the distribution of benefits.

American legislators should learn more about blockchain technology for their constituents. Bring blockchain to the industries and social fields that need it, and ensure that the technology is not trampled by legislation. The global trend of adopting blockchain technology is set. Once the law is unfavorable to the development of blockchain, the United States will be deeply trapped in the vortex of increasingly powerful global economic competition.