CTA Signs on to CompTIA and TECNA Letter Calling on Congress to Pass the Blockchain Promotion Act of 2019
Colorado Technology Association joined CompTIA and a broad coalition of national, state and regional technology councils through TECNA (Technology Councils of North America) to pass the Blockchain Promotion Act of 2019 during the 116th Congress.
Emerging technologies such as blockchain are increasingly interwoven into our nation’s economy and national security. Blockchain technology is evolving at a rapid pace, and there is a general agreement that blockchain can be used to improve the way the government currently does business. Public and private sector use cases for blockchain technology touch almost every sector from health care and real estate to cybersecurity and education. By 2025, the business value added by blockchain will grow to slightly more than $176 billion, then surge to exceed $3.1 trillion by 2030, according to a recent forecast by Gartner.
The Blockchain Promotion Act of 2019 would direct the Department of Commerce to establish a blockchain working group to recommend a consensus-based definition of the technology. The working group would also consider recommendations for the National Telecommunications and Information Administration (NTIA) and Federal Communications Commission (FCC) to undertake a study that would examine the potential impact of blockchain on spectrum policy and opportunities for the adoption of blockchain to promote efficiencies within the Federal government.