Categories: Ripple

The US Should Take a ‘Leadership’ Role on Blockchain, IBM Report Argues

Click here to view original web page at

Developers and companies researching blockchain technology are looking to the U.S. government to help spur adoption, a new report by IBM claims.

Written by Thomas Hardjono, director of the MIT Trust: Data Consortium, the report summarizes the results of a series of roundtable meetings held by the Congressional Blockchain Congress – a group of lawmakers in the U.S. Congress who advocate for the tech – in 2017 and 2018. The meetings were spearheaded by Representatives David Schweikert and Jared Polis, and aimed to understand potential use cases for blockchain as well as accelerate use cases of the tech, according to the report.

Specifically, the three meetings each had a different focus: digital identity, payments and supply chain and provenance. The report explained that "strong industry consensus exists around the belief that blockchain technology will be the leading edge of 'next Internet' economy."

The report added:

"It is imperative that government and industry work together to continue and strengthen technological and market leadership in this new area, and to address potential policy and regulatory incompatibility that may constrain growth of the emerging digital-blockchain economy."

As such, each meeting's goals were to better explain use cases, find common interests, speed up the deployment of the technology, establish what might prevent adoption and find components which may be used across businesses or industries.

The report explained that attendees from the meetings came to three "overarching common themes." Namely, that participants believe there needs to be "leadership and vision from the government," that there should be "close collaboration between industry and government" and that there must be "increased research and test-bed deployments."

"Currently there is a need for greater vision and leadership across government regarding the development of technology for a digital-blockchain economy, and the U.S. role in this future economy," the report stated. "Industry leaders believe this technology will be core to the future of the economy as a whole, just as the Internet has become."

Call for public resources

The report did not provide specifics on the attendees or which projects they may have represented.

However, representatives from Ripple, Sweetbridge, Joust Bank, the National Institute of Standards and Technology, Microsoft's Decentralized Identity Foundation, the Sovrin Foundation, the Linux Foundation and IBM all gave presentations at one or another of the meetings.

Further, there were few repeat attendees at each meeting, the report stated.

It concluded that "more resources need to be allocated toward this nascent yet rapidly evolving technology, much in the way the U.S. government-funded early research into the internet in the 1970s and 1980s."

"It was this support from [the] government, combined with a shared vision for a U.S. leadership role in initial internet communications technology, that allowed the internet to flourish with broad adoption and become the foundation of the digital economy today," it said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Written by Thomas Hardjono, director of the MIT […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin May Be Laying the Groundwork for a Trend Reversal

Following Bitcoin’s recent plunge into the mid-$9,000 region, the cryptocurrency has been able to post a strong and sustainable bounce… Read More

5 hours ago

The blockchain/crypto week in quotes

“People who are watching the daily price of Bitcoin are really missing the whole point…The whole idea of Bitcoin is… Read More

5 hours ago

Brewing giant gives blockchain to African farmers

AB InBev Africa and BanQu have roped in blockchain technology to uplift smallholder farmers in the global brewing giant’s supply… Read More

5 hours ago

Self-Proclaimed Satoshi Nakamoto’s Bitcoin ‘Reveal’ Is an Epic Fail

The "big reveal" by the latest self-proclaimed Satoshi Nakamoto was an epic failure that overpromised and underdelivered. | Source: Shutterstock… Read More

5 hours ago

Litecoin May Soon Surge Despite Selling Pressure and Recent Dusting Attack

Litecoin has been wrapped in negative sentiment as of late, which has primarily been rooted it its lackluster price action… Read More

5 hours ago

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More