This week, the U.S.-led Sunshine State Congressman Deputy Michael WaltzR-Fla., He defended “Distributed Ledger Technology Act for National R&D Strategy”.
Waltz submitted the proposal with US support Representatives of Byron DonaldsR-Fla., And Darren Soto, D-Fla. Other sponsors are the US Representative Josh GottheimerD-NJ and Eric SwalwellCalifornia D.
The bill “would require the federal government to coordinate research and development efforts on distributed registry technologies (DLT) and their applications,” and Waltz’s office provided some details.
“Distributed Ledger Technology (DLT), which includes the most common blockchain technology, is well known as a core technology known as cryptocurrency and other digital assets, such as fungal tokens (NFT), “said Waltz’s office.” Potential use of DLT the case also includes supply chain transparency, digital identity, information management and so on. DLT applications can strengthen people’s data ownership, improve the quality and security of online services, and facilitate business compliance.
“It is also one of the mainstays of the technology approved by DLT House America COMPETES Law and approved by the Senate US Innovation and Competition Act (USICA), to resolve the current differences in the Conference, ”added Waltz’s office. “Exactly, Distributed Ledger Technology Act of 2022 National R&D Strategy would: demands Office of Science and Technology Policy (OSTP), in coordination with other relevant federal agencies, to develop a national R&D strategy for DLT and its practical applications; requires National Science Foundation (NSF) Continues to support research on DLT and its applications, focusing on and “demanding” the various areas in which the private sector invests little. National Institute of Standards and Technology (NIST) to work on an applied research project to study and demonstrate the potential benefits of DLT. “
Waltz and other sponsors have weighed in on the bill this week.
“Other nations, including our opponents, have recognized the extent to which they are investing in the development of distributed book technology (DLT) for the future,” Waltz said. “In fact, Communist Party of China built Blockchain Service Network As part of the intention to implement the “digital silk road”. The United States, on the other hand, is backtracking. To maintain our global leadership and competitiveness, we need to invest in DLT research and development here at home. This two-chamber legislation will help fill the gap in current federal science policy, invest in our future, and promote responsible innovation across the country. ”
“It is essential that the United States continues to be a world leader in these emerging technologies to ensure that our democratic values are at the forefront of this technological development,” Soto said. “By developing an appropriate strategy and supporting research, we are promoting innovation and improving access.”
“Washington bureaucrats have deliberately stopped inventing for decades; now is the time to promote policies that advance American technology,” Donald said. “By expanding our research into blockchain technology across a wide range of applications, we can increase efficiency, facilitate development, and cut heavy regulatory waste. This legislation empowers and strengthens key innovators here in the United States to develop and cultivate revolutionary technology.”
The bill was sent to the US Home Science, Space and Technology Committee.
USA Senator Roger WickerR-Miss., Is defending the bill in the US Senate. US Senator Marsha BlackburnR-Tenn., Bill CassidyR-La., Cynthia LummisR-Wy., And Gary Peters, D-Mich., They protect the bill. Wicker’s bill was sent to the U.S. Senate Trade, Science and Transportation Committee which protected him in late May.