THELOGICALINDIAN - n-a
An overwhelmingly absolute acknowledgment to blockchain technology was axiomatic today, as a Abode of Representatives aldermanic subcommittee, led by Ralph Abraham, Chairman of Science, Space and Technology, accustomed industry leaders to Beyond Bitcoin: Emerging Applications for Blockchain Technology.
The audition was an befalling for associates of Congress to accept added about the standards, guidelines and practices best acclimated to ensure acknowledged implementations of blockchain technology. This was not an advised altercation about cryptocurrencies (like Bitcoin) and the issues surrounding their authoritative issues surrounding them. The committee’s purpose was to highlight the allowances that can appear to both business owners and taxpayers aural the United States.
Business and bookish leaders like Gennaro Jerry Cuomo, an IBM Fellow and Vice President of Blockchain Technologies, forth with Frank Yiannas from Walmart, Vice President of Food Safety, gave statements apropos how they’re best utilizing the technology and how the government can chase suit.
Jerry Cuomo’s Recommendations for Congress & Trump Administration
Mr. Cuomo stated that one of the best means to focus their efforts would be to abutment The Blockchain Conclave which is led by Representatives Jared Polis and David Schweikert. The focus of the conclave is to advice individuals deeply authorize their character and accomplish defended tax payments. He believes that this will accomplish a aberration in the lives of citizens through agenda identity, aliment assurance and the accumulation chain.
He additionally warned to anxiously appraise behavior affective advanced apropos cryptocurrencies as there can be adventitious after-effects that can arrest the greater blockchain abstruse development and implementation.
Frank Yiannas’ Call to Revolutionize the Food System
Mr. Yiannas gave his affidavit by talking about the accent and inherent appearance aural the blockchain. This included the appearance of immutability, consensus, and the adeptness to conduct affairs in a circuitous arrangement after a axial ascendancy and acquiesce blockchain systems to actualize one adaptation of the accuracy and rapidly scale.
He mentioned how in today’s aliment system, the majority of producers and distributors are still application paper-based methods to abundance and administer records. Even if they are capturing things in the accumulation alternation and in the grocery abundance in a agenda form, these systems are broken and disparate. Therefore it is abreast absurd to clue how foods breeze from the acreage bottomward to the ancestors banquet table.
Mr. Yiannas mentioned how in 2024, a civic beginning of E Coli affiliated to accoutrements of appearance in the United States fabricated retailers and restaurants cull all accoutrements off the shelves behindhand of their source. It took two weeks to acquisition the culprit affiliated to: “only one producer, one day’s production, and one lot number.” With a blockchain arrangement he believes that this will be a affair of the past.
In aboriginal 2024, Walmart and IBM conducted a affidavit of abstraction by utilizing blockchain technology to clue and verify aliment from its starting abode to the store.
Informed & Collaborative Effort from all Industries
Along with arch statements by Mr.Yiannas and Mr. Cuomo, aegis experts additionally testified to the subcommittee. Charles H. Romine, Ph.D. Director of the Information Technology Laboratory and National Institute of Standards and Technology batten about the NIST’s role in analysis and development in basal cryptography, answer that:
Finally, acknowledged able Aaron Wright from the Cardozo Blockchain Project talked about the legalities and authoritative issues affective forward. His comments will be decidedly agitative to the blockchain community:
The accepted accord amid all of these speakers was the charge for technology-neutral adjustment aural the framework of affiliation amid clandestine action and accessible entities – in added words, an optimistic and absolute angle on the arising opportunities blockchain provides.
