Congress

Blockchain gains congressional support

Placeholder image for article template

The digital ledger system underpinning Bitcoin is gaining support from lawmakers on both sides of the aisle.

Reps. Jared Polis (D-Colo.) and Mick Mulvaney (R-S.C.) launched the Congressional Blockchain Caucus to advance political discussion and policy development for blockchain-based technologies and digital currencies -- and to educate colleagues on what blockchain is.

"The Blockchain Caucus will focus on raising awareness, advancing ideas that foster growth and safeguarding consumers," Polis said in a statement. "It's vital for Americans, businesses and members of Congress to learn about blockchain so the U.S. can continue to secure its stance as the global leader of ingenuity."

Blockchain is generally thought of in relation to Bitcoin, but its ability to maintain an encrypted record of transactions has piqued some interest in government circles about its other potential uses.

"The blockchain has boundless potential," Polis said. "From cryptocurrencies to supply chains to banking to property titling, blockchain-based solutions have the ability to decentralize cybersecurity and revolutionize many industries."

During his time in Congress, Polis has demonstrated a special interest in digital endeavors. In 2014, he hosted a Bitcoin Demo Day on Capitol Hill, and he co-chairs the Congressional Caucus on Innovation and Entrepreneurship and the Open-Source Technology Caucus.

When running for re-election in 2014, Polis' campaign website accepted donations in the form of bitcoin.

About the Author

Chase Gunter is a former FCW staff writer.

Featured

  • Management
    shutterstock image By enzozo; photo ID: 319763930

    Where does the TMF Board go from here?

    With a $1 billion cash infusion, relaxed repayment guidelines and a surge in proposals from federal agencies, questions have been raised about whether the board overseeing the Technology Modernization Fund has been scaled to cope with its newfound popularity.

  • IT Modernization
    shutterstock image By enzozo; photo ID: 319763930

    OMB provides key guidance for TMF proposals amid surge in submissions

    Deputy Federal CIO Maria Roat details what makes for a winning Technology Modernization Fund proposal as agencies continue to submit major IT projects for potential funding.

Stay Connected