Topic: U.S. Congress Officially Supports Blockchain Technology (Read 154 times)
Maybe this will signal more US companies to come out in the open and announce their plans for Blockchain. Paypal recently filed some patents for their own blockchain technology (in the works).
Just as one said there would be no Blockchain without bitcoin. Therefore they have seen the importance of the technology in providing solutions to businesses that was hitherto difficult. Hence the embrace
Yes its good if there is another country continue following us to believe into blockchain and bitcoin.
No bitcoin and no blockchain and i also believe in that since bitcoin is the first project which adopt blockchain.
my opinion is a lot of potential that can be used as a lot of benefits from blockchain. And actually every country can use it well.
Although this is good news, the blockchain is not Bitcoin. Bitcoin is based only on the tests generated in the blockchain. Therefore, the blockchain is recognized by the U.S. government and does not represent Bitcoin.
Well, I agree with your point of view. There is a big difference between Bitcoin and blockchain. The U.S. Congress recognizes the blockchain because its technology is involved in legitimate areas, and their focus is to increase public awareness of the blockchain and promote blockchain development while protecting consumer rights.
finally a good news & green chart are back in this industry. honestly Q1 are not very good start for cryptocurrency, to many bad news arround it, I hope & we all hope that it is will be a good start for recovering cryptocurrency chart.
More bullish trend!
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
This news feed is nice to heard in our ears,that ,US congress,officially support the block chain technology, therefore this means that theres a big possibility that this bitcoin will become regulated because the congress have a right to make a law and used this as a part of everyday economic growth in the country of America,just like happen in country of Japan that all cryptocurrency bussiness is regulated to operate all kinds of virtual currency system.
The United States has realized that blockchain technology will be the core of future science and technology development.
They certainly don't want to miss this technological feast!
They want to develop blockchain technology, always lead the world!
They certainly don't want to miss this technological feast!
They want to develop blockchain technology, always lead the world!
nice i guess people gonna come out of there shells ,and buy lots of em.
Interesting read, you should check it up, from the text (https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf , page 224-225):
Quote
Conclusions
Technology presents evolving challenges and generates new
solutions. Blockchain technology essentially stores and transmits
data securely, in large volume, and at high speeds. So far, the
technology has proved largely resistant to hacking, and given this
feature, developers first applied it to digital currencies. Yet
blockchain has many more potential applications, such as portable
medical records and securing the critical financial and energy
infrastructure that the Report identified.
Recommendations
-Policymakers and the public should become more familiar
with digital currencies and other uses of blockchain technology,
which have a wide range of applications in the future.
-Regulators should continue to coordinate among each
other to guarantee coherent policy frameworks,
definitions, and jurisdiction.
-Policymakers, regulators, and entrepreneurs should
continue to work together to ensure developers can deploy
these new blockchain technologies quickly and in a
manner that protects Americans from fraud, theft, and
abuse, while ensuring compliance with relevant
regulations.
-Government agencies at all levels should consider and
examine new uses for this technology that could make the
government more efficient in performing its functions.
Technology presents evolving challenges and generates new
solutions. Blockchain technology essentially stores and transmits
data securely, in large volume, and at high speeds. So far, the
technology has proved largely resistant to hacking, and given this
feature, developers first applied it to digital currencies. Yet
blockchain has many more potential applications, such as portable
medical records and securing the critical financial and energy
infrastructure that the Report identified.
Recommendations
-Policymakers and the public should become more familiar
with digital currencies and other uses of blockchain technology,
which have a wide range of applications in the future.
-Regulators should continue to coordinate among each
other to guarantee coherent policy frameworks,
definitions, and jurisdiction.
-Policymakers, regulators, and entrepreneurs should
continue to work together to ensure developers can deploy
these new blockchain technologies quickly and in a
manner that protects Americans from fraud, theft, and
abuse, while ensuring compliance with relevant
regulations.
-Government agencies at all levels should consider and
examine new uses for this technology that could make the
government more efficient in performing its functions.
More bullish trend!
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
This is good news. Hope that statements can be the statement can be accounted for.
Any more source links? Because your link seems not from a big site/blog news.
Although this is good news, the blockchain is not Bitcoin. Bitcoin is based only on the tests generated in the blockchain. Therefore, the blockchain is recognized by the U.S. government and does not represent Bitcoin.
No but it's still some good news amidst all the red bloodbath. It's a start of the bull trend I think and for the better things to come.
More bullish trend!
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
I reality, there is nobody that study the blockchain technology and will not see that this system is the best discovery of mankind and the potential it brings was a very high one. Some off us thought that USA or governments need not need blockchain technology but I believe that they need it more than us and it is of a most important to them than us. Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
More bullish trend!
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
This is a good news in which its been last year that the US Pentagon is studying the adaptation of the blockchain technology to their system as it was proven very strong against any form of cyber attacks. Maybe they have finally decided now that the need of system such as blockchain technology is vital to their defense system and maybe they ask the help of the US congress so that they could adapt it more easily.
I think this is positive for the bloodbath because it comes almost immediately when the G-20 countries let loose and shows their support too.
But one of the present problem is that, they all emphasized BLOCKCHAIN TECHNOLOGY, And i think this has the tendencies to leave cryptourrency vulnerable which isn't good enough at all,
This statement is most telling:
The report shows Bitcoin’s limitations as a medium of exchange, citing long transaction times and high fees, and further acknowledging that protocol improvements and off-chain solutions could speed up processing times and reduce transaction fees to help move cryptocurrency into the realm of actual currency.
A cryptocurrency must do 3 things to compete as an actual currency, vs things like Debit, Credit Cards and Cash:
It must be able to transact in seconds, the equivalent of grabbing a couple of bills out of your pocket, or pulling out a card in order to make a transaction
It must be cheap - Preferably cheaper than your average credit card transaction (for both Merchant and you)
It must be secure and immutable
There are a few Cryptos which tick a few of these boxes, but none yet that tick all of them. A real currency and medium of exchange needs to do all 3 in order to compete and beat the current competition.
Whichever one does this, expect slow, but widespread adoption. Merchants are always looking for ways to make more money, and if a Cryptocurrency gives them this option, they will grab it.
But one of the present problem is that, they all emphasized BLOCKCHAIN TECHNOLOGY, And i think this has the tendencies to leave cryptourrency vulnerable which isn't good enough at all,
This statement is most telling:
The report shows Bitcoin’s limitations as a medium of exchange, citing long transaction times and high fees, and further acknowledging that protocol improvements and off-chain solutions could speed up processing times and reduce transaction fees to help move cryptocurrency into the realm of actual currency.
A cryptocurrency must do 3 things to compete as an actual currency, vs things like Debit, Credit Cards and Cash:
It must be able to transact in seconds, the equivalent of grabbing a couple of bills out of your pocket, or pulling out a card in order to make a transaction
It must be cheap - Preferably cheaper than your average credit card transaction (for both Merchant and you)
It must be secure and immutable
There are a few Cryptos which tick a few of these boxes, but none yet that tick all of them. A real currency and medium of exchange needs to do all 3 in order to compete and beat the current competition.
Whichever one does this, expect slow, but widespread adoption. Merchants are always looking for ways to make more money, and if a Cryptocurrency gives them this option, they will grab it.
Although this is good news, the blockchain is not Bitcoin. Bitcoin is based only on the tests generated in the blockchain. Therefore, the blockchain is recognized by the U.S. government and does not represent Bitcoin.
Just as one said there would be no Blockchain without bitcoin. Therefore they have seen the importance of the technology in providing solutions to businesses that was hitherto difficult. Hence the embrace
This is great news I hope all that I will beat off my losses.BTCBTC
More bullish trend!
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
Source - https://www.astralcrypto.com/2018/03/19/u-s-congress-officially-supports-blockchain-technology/
Always nice to see seome greens again.
Thughst?
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