Once viewed with fear and uncertainty by lawmakers, bitcoin and blockchain technology were heralded as innovations by US Congressman David Schweikert (R-AZ) at an industry conference yesterday.
The inaugural DC Blockchain Summit , produced by industry trade group the Chamber of Digital Commerce and held in Washington, DC, saw Schweikert and Natalee Binkholder, deputy chief of staff for Congressman Mick Mulvaney (R-SC), speak openly about the technology for the first time.
Representative Schweikert, in particular, presented an optimistic vision for blockchain, discussing how the technology could bring "unbankable" people across the world into the global economy.
Schweikert told the audience: "This is going to create a revolution. It’s so much more than moving microcurrency." Throughout the day, panelists and attendees alike took the event as an opportunity to further dialogue about blockchain tech between the government and private sector professionals.
Schweikert identified himself as a vanguard in DC for his early advocacy of cryptocurrency, noting that he was the first to mention the term ‘bitcoin’ on Capitol Hill. Calling out the knowledge gap between technologists and policymakers, he encouraged the audience to help ensure the blockchain did not fall victim to "control freaks" who may harbor misconceptions about the technology.
Standing in for Congressman Mulvaney (who was scheduled to speak but cancelled due to illness), Natalee Binkholder remarked that the Congressman is a "key advocate" for blockchain and had planned to give a "high-level regulatory speech" about it.
Despite the impromptu nature of her appearance, she communicated Mulvaney’s message, stating: "The blockchain regulates itself".
Politically aligned with Representative Schweikert, Mulvaney is evidently more interested in fostering development than in creating barriers that may prevent unforeseen breakthroughs.Binkholder also noted that he’s in it for the long haul: "Mick would like to be a leader in this regulatory space," she said, indicating that when Congress is called to […]
