Becker's Healthcare April 12, 2019
Blockchain faces a dilemma as Congress considers a bill that would regulate decentralized technology, according to Forbes.
The proposed law, “Blockchain Promotion Act,” is a bipartisan bill that calls for the Department of Commerce to define blockchain. Lawyers working on the bill have contacted IBM and Intel, who are both investing in blockchain.
One goal of the new bill is to “pre-empt a patchwork series of blockchain definitions from state governments,” Forbes reports. Additionally, the bill is seeking to find ways to address blockchain’s scalability.
Some experts are apprehensive about getting the government involved, as blockchain was originally developed as a means to transmit money and information without a central authority. Major companies collaborating with Congress may also create a...
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