The ambiguity that has been associated with blockchain technology has caused deep divides between those who support it and those who are against the technology’s applications like cryptocurrencies. The dissent has been difficult to subdue as formal negotiations, especially between regulators and stakeholders have barely taken place. This has since changed with more legislations put in the United States Congress to discuss and differences.
Research and development of Blockchain
More US congress members have put up legislations that aim at enhancing the support for blockchain innovations. The US. Rep. David Schweikert (R-AZ) introduced legislation that proposed that blockchain be “nurtured through support for research and development and a thoughtful and innovation-friendly regulatory approach” as the technology possesses incredible potential. This piece aims at increasing the allocation for blockchain-related projects and recognizing the potential of growth as a result of the technology. Blockchain certification online helps you acquire the knowledge about blockchain.
Race to the top
More other legislation pieces have sought clarity in defining cryptocurrencies, eliminating taxation on the digital currencies as is with other foreign currencies and supporting blockchain and digital currencies. The legislations show the race to become industry leaders is getting started as economies prepare a conducive environment for the technology and the digital currencies. Regulations supportive of blockchain will attract more innovations, and conducive economies will benefit from the increasing activities in their environment. Blockchain certification online offers the best way to learn about the technology.
Becoming the top market for the technology of the future comes with power and interested economies are not backing down from this race to achieve their target.