US Congressional committees have a hearing planned next week to discuss the applications of blockchain technology.
Emerging applications for blockchain technology, will be on February 14 at AM. In which the Subcommittee on Supervision and the Research and Technology Subcommittee will participate in the discussion, both belonging to the Science, Space and Technology Committee of the House of Representatives of the United States.
However, so far the objective of the hearing has not been explicitly addressed, it is crucial to bear in mind that the Supervision subcommittee has the power to allocate resources to projects under development. Fact that leaves open the possibility that the Congress initiate some project to approach the technology that gives support to the cryptoactives at the moment.
Likewise, and in accordance with the call made by the Science, Space and Technology Committee, this audience will be attended by members of the economic sector whose companies have adopted the blockchain technology, such as Frank Yiannas, vice president of food security at Walmart. Company that adopted the accounting distributed last year to avoid food fraud.
Also present will be Charles Romine, director of the National Institute of Standards and Technology (NIST); Jerry Cuomo, IBM’s blockchain vice president; Chris Jaikaran, analyst at the Congressional Research Service; and Aaron Wright, associate professor at the Benjamin N. Cardozo Law School.
DISCUSSION ON THE ROLE OF THE SEC
This will be the second opportunity in the month of February in which a central government agency of the United States discusses something related to cryptocurrencies and the blockchain. Recall that on February 5, the Committee on Banking, Housing and Urban Affairs of the Senate received the presidents of the Securities and Exchange Commission (SEC) and the Commission of Trade of Futures of Products (CTFC) of the United States for that both fixed positions with respect to cryptocurrencies.
At this meeting the clarification of Christopher Giancarlo, president of the CTFC, who determined that since 2015 the cryptocurrencies are a product or commodity for the institution he represents, reason why as an agency they have no regulatory jurisdiction over platforms that carry out transactions in cash in virtual currencies.
These statements of February 5 showed that there is still some mistrust on the part of the US authorities towards the cryptoactives. However, the stance towards blockchain technology seems to enjoy greater receptivity, despite being so closely linked to cryptocurrencies.