Matsui, Guthrie Introduce H.R. 6913, the Blockchain Promotion Act of 2018

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Washington, October 1, 2018 | comments

Matsui, Guthrie Introduce H.R. 6913, the Blockchain Promotion Act of 2018

Legislation would convene federal and industry stakeholders to develop a consensus-based definition of blockchain

Washington, D.C. –Congresswoman Doris Matsui (D-CA) and Congressman Brett Guthrie (R-KY), Members of the Energy and Commerce Subcommittees on Communications and Technology and Digital Commerce and Consumer Protection, introduced H.R. 6913, the “Blockchain Promotion Act of 2018,” which would establish a working group of stakeholders across the federal government and private industry to establish a common definition of blockchain.

“Blockchain technology could transform the global digital economy.  Opportunities to deploy blockchain technology ranges from greatly increased transparency, efficiencies and security in supply chains to more-opportunistically managing access to spectrum,” said Congresswoman Matsui. “This bipartisan bill will bring a broad group of stakeholders together to develop a common definition of blockchain, and, perhaps even more importantly, recommend opportunities to leverage the technology to promote new innovations. I am pleased to work with Congressman Brett Guthrie on this effort.”

“As our economies become increasingly digital, more organizations are turning to blockchain to keep track of their business transactions,” said Guthrie. “Blockchain can be a great resource for innovation and technology, but we must figure out exactly what best common definition is and how it can be used. I was proud to join my colleague Congresswoman Doris Matsui to introduce the Blockchain Promotion Act to better understand blockchain and its role in our digital economy.”

Specifically, the Blockchain Promotion Act of 2018 would direct the Department of Commerce to establish a blockchain working group to recommend a consensus-based definition of the technology. The working group would also consider recommendations for the National Telecommunications and Information Administration (NTIA) and Federal Communications Commission (FCC) to undertake a study that would examine the potential impact of blockchain on spectrum policy and opportunities for the adoption of blockchain to promote efficiencies within the Federal government. 

As States are considering legislation that includes different definitions of blockchain, this bill would bring a broad group of stakeholders together to develop a common definition.

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