IBM and some of the members of the US Congress blockchain Caucus party have discussed the usage of the blockchain. The uses of payments, ID systems, and supply chain systems during the discussion meeting.
IBM published a report by authorizing that the effect of blockchain technology for the US Government: to make the awareness on payments, identity and supply chain, which made in the partnership with the US Congress Caucus blockchain party.
The published report reviews that the series of the discussion between the US representatives David Scheweikert and Jared Polis.
Jared Polis is the author of ‘the CryptoCurrency Tax Fairness Act’ which is to abolish the taxes of cryptos which are of below 600 dollars. The discussion went along with the Thomas Hardjono, a technical director at the MIT, Massachusetts Institute of Technology and Jerry Cuomo who is the Chief technical officer at IBM.
MIT and IBM held almost three meetings. Meetings held with the members of Congress and discussed the need for the Government funding regarding crypto world innovation and the regulatory sandboxes. It is in which the state would be able to test the solutions before they release to the market.
Jerry said that experts could analyze the blockchain for the whole day but it must be made available to the residents. He also particularly said that it was the ‘time for to start acting’ on the integration of blockchain and the blockchain already is for the Government and let the government be ready for the development in blockchain system.
Polis proposed a national hub for the blockchain innovation system in the Government and also business. He also said that the state has begun to see the promises of the technology related to blockchain which can exceed the tokens and cryptocurrencies.
He particularly said about the importance of making the framework for the cryptocurrencies technology innovation and the implementation which can develop the quality of life of the US. He said that the importance of crypto taxation. Jerry Cuomo told the House Committee, all participants in an interaction have an up-to-date ledger that reflects the most recent transactions – and these transactions once entered, cannot be changed on the ledger.”
Tom Emmer, Caucus member said that he likes to introduce three bills which are going to support the development of the blockchain technology. The cryptocurrencies are established as a safe harbor for the taxpayers.