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Senate Approves Blockchain Promotion Act

July 12, 2019 11:08 am

Washington D.C. — On Tuesday the US Senate Commerce, Science and Transportation Committee approved the Blockchain Promotion Act. This legislation will help define the word “Blockchain” for official government understanding. As distributed ledger technology is explored by the government, it will become available for use in improving official functions.

Use cases would be for large, slow moving databases like Social Security records and property records. 

As the US continues to try to regulate cryptocurrencies and blockchain technology, it is only a matter of time before government incorporates blockchain technology.