US Legislators Partner With MIT and NIST to Develop Blockchain Security Standards

The group of US lawmakers called the Congressional Blockchain Caucus has partnered with several institutions such as the Massachusetts Institute of Technology (MIT) and the National Institute of Standards and Technology (NIST) to study how to establish security standards for the use of Blockchain technology in the country.

In a recent podcast, the House Joint Economic Committee said that their group is committed to speeding the adoption of Blockchain technology for the benefit of the American public. Co-chairperson David Schweikert said:

"It is our job as members of Congress…to embrace and in some ways evangelize what these things could mean for economic growth and society."

Schweikert added that the technology is among the disruptive and elegant ideas that could transform the society for the better.

Congressional group and other Blockchain initiatives

The Congressional Blockchain Caucus was launched in September 2016 to advance the mainstream adoption of the Blockchain technology in the US. The caucus was launched by a group of lawmakers led by Congressmen Jared Polis and Mick Mulvaney.

The launching of the caucus coincided with the inauguration of the DC Blockchain Center, which is an information center for policymakers. The center was founded by the trade association Chamber of Digital Commerce and the technology incubator 1776 to serve as a platform for the public and private sectors to collaborate on possible Blockchain applications.

During the month, the House of Representatives has also approved a nonbinding resolution that calls for the drafting of a national technology innovation policy including a supportive language for digital currencies and Blockchain.

These developments have shown increasing interest and support for Blockchain technology by both the government and private sector.