Blockchain Caucus Launched

Representatives Jared Polis (D-CO) and David Schweikert (R-AZ) recently launched the Congressional Blockchain Caucus. The Caucus will examine sound public policy toward blockchain-based technologies and digital currencies.

Blockchain is the main technology that powers cryptocurrencies such as Bitcoin. By using math and cryptography, blockchain supplies a decentralized database of every transaction and creates a record of authenticity that is verifiable by a user community.

In the last two years, a number of security breaches involving health data has taken place so experts in the field are looking at how to deal effectively with cybersecurity to protect health data. Blockchain offers a possible solution.

According to Representative Polis, “Blockchain has the potential to reshape everything from the financial industry, to supply chains, to cybersecurity, and to healthcare. The Congressional Blockchain Caucus will seek to educate, engage, and provide research to help policymakers implement smart regulatory approaches to the issues raised by blockchain-based technologies and networks.”

“The key to unleashing the power of the technology is collaboration and engagement between the industry and policy makers,” reports Perianne Boring, Founder and President of the Chamber of Digital Commerce which represents innovators in the blockchain technology ecosystem.

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