A bill introduced in the House today would bring together the Department of Commerce and the Federal Communications Commission (FCC), along with private industry, to create a standardized definition of blockchain technology.
Introduced by Reps. Doris Matsui, D-Calif., and Brett Guthrie, R-Ky., the Blockchain Promotion Act of 2018 (H.R. 6913) would create a working group led by Commerce to discuss the definition of blockchain, with the National Telecommunications and Information Administration–which is part of Commerce–and FCC commissioning a study on the impact of blockchain on spectrum availability and the opportunities for blockchain within the Federal government.
“This bipartisan bill will bring a broad group of stakeholders together to develop a common definition of blockchain, and, perhaps even more importantly, recommend opportunities to leverage the technology to promote new innovations,” said Matsui.
“Blockchain can be a great resource for innovation and technology, but we must figure out exactly what best common definition is and how it can be used,” said Guthrie.
The bill was referred to both the House Energy and Commerce and Oversight and Government Reform committees.