US lawmaker suggests developing a national blockchain development strategy

A U.S. lawmaker has proposed a bill to the federal government that would include the development ofnational blockchain development strategy to maintain the country's “technological leadership”.

This week, Rep.US Congressman Brett Guthrie has introduced a bill calling on the Federal Trade Commission (FTC) to study the adoption of blockchain in industry and other areas around the world.

If passed, the billconsidered by the House’s Energy and Trade Committee, it would give the FTC two years to conduct the study and another six months to submit recommendations to Congress regarding strategy development.

Guthrie calls for recommendations onthe introduction of blockchain at the state level, the deployment of technology in the business sector, as well as plans for the development of the blockchain, risk reduction strategies, the legislative framework and ways to consolidate federal laws that impede the development of technology.

The recommendations made will help to outlinea comprehensive blockchain development strategy for the United States. Some states already have similar strategies, for example, Germany. As part of the proposed study, the FTC will give lawmakers a summary of blockchain strategies in at least 10 countries.

At the same time, one of Guthrie’s main concerns is that in the absence of a strategy, China will remain the leader in this area, which is actively implementing blockchain at the national level.

“We cannot let China get ahead of us,” Guthrie said.

In April, China launched a service projectblockchain platforms for commercial use. In addition, the country is actively testing its own cryptocurrency – the digital yuan. Staying one step ahead of China has become even more important during the coronavirus pandemic, Guthrie said.

"The ongoing coronavirus pandemic has made clearto understand that we need to maintain US leadership in technology, ”he said. "America is a country of innovation and entrepreneurship, and we must continue in the same vein."

The bill is part of a package of technology-related legislative initiatives presented by members of the US House of Representatives from the Republican Party.

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