The U.S. Representatives Doris Matsui and Brett Guthrie proposed Blockchain Promotion Act of 2018 that is going to find the common definition of blockchain.
What Is Blockchain?
There are lots of definitions of blockchain that mostly seem to be difficult to understand. The U.S. decided to reveal a common and clear explanation of the blockchain technology.
Matsui and Guthrie proposed the bill that is going to interpret blockchain for common use.
Blockchain = Future
“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.” – stated congressman Guthrie.
As blockchain integrates in many spheres, the representatives admit the importance of the technology to be intelligible.
“Our economies become increasingly digital, more organizations are turning to blockchain to keep track of their business transactions”. – Guthrie said.
Blockchain Promotion Act of 2018 would advise the Department of Commerce to gather a blockchain group to recommend a consensus-based definition of the technology.
Despite looking for the definition of blockchain, West Virginia will be the first state to use the technology for elections this November.