US Congressman proposes National Blockchain Strategy

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Biz Blocks by Michael Bacina, Partner Piper Alderman Lawyers | May 29/2020

Blockchain continues to be on the agenda in the US House of Representatives, with Rep. Brett Guthrie (R-KY) introducing a bill calling on the Federal Trade Commission (FTC) to survey the prevalence of blockchain technologies across industry, government and the globe.

The bill proposes that the immediate focus for the FTC would be to consider the blockchain frameworks put in place elsewhere, which would no doubt include Australia’s National Blockchain Roadmap. However, the clear concern is that America will be left behind in the wake of China, whose developments in the blockchain space are widely known, and causing headaches in Washington.

Reiterating the sentiments of various congressmen and women last year during the Libra Association hearings, Rep. Guthrie said that:

“The ongoing coronavirus pandemic has made it clear that we need to maintain American leadership in technology… America is a nation of innovation and enterprise – and we need to keep it that way.”

We can only assume that Rep. Guthrie has drawn his inspiration from Australia’s successful National Blockchain Roadmap initiative, and of course, imitation is the sincerest form of flattery. The Australian National Blockchain Roadmap has recently taken on Chloe White as its Lead, and hosted its first Steering Committee meeting.