• Days
  • Hours
  • Mins
  • Secs
  • Sat, 19 Oct 2019, 03:04 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Congress attending blockchain education day, Libra grilling to begin soon

House of Congress.PublicDomainPictures/Pixabay

Sun, 14 Jul 2019, 12:59 pm UTC

With blockchain being a relatively new technology, many of its aspects are still confusing even to government leaders. This is why the US Chamber of Digital Commerce is holding an education day where members of the House of Congress will be taught the nuances of the nascent technology. This is set to begin around the same time that a hearing for Facebook Libra will also start.

In a recent post on the Chamber’s website, it was noted how so many members of Congress do not seem to understand what blockchain even is as they complain about Facebook Libra. This is a huge issue since the social network is set to be grilled in a few days by policymakers who might not even understand the topic they are about to broach.

“Never have we seen some of the critical commentary and statements around blockchain technology as we are seeing prompted by Facebook’s announcement of the new Libra platform. This new platform, proposed to offer a payment solution using a blockchain, has drawn some of the most unusual and alarming statements from policy makers, including calls to ask industry to halt innovation and concerns around global financial stability,” the post reads.

“Also concerning are the President’s statements critical of bitcoin and business platforms utilizing blockchain technology. These types of conclusory statements do not fully comprehend the full impact of this technology or the breadth of companies that are innovating in this industry.”

As a result, on July 18, the Chamber will be hosting what it is calling the Congressional Blockchain Education Day. It will be facilitated by 120 members of the Chamber and the goal is to provide Senators, representatives, and various legislatures with the right information about blockchain.

This is important since Facebook will be testifying before Congress next week, The Block reports. During that time, it would be helpful for the lawmakers to actually understand what Libra is and what blockchain is.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,954.86 (-1.94%)
  • Ethereum (ETH) $173.20 (-2.29%)
  • XRP (XRP) $0.292000 (-1.99%)
  • Bitcoin Cash (BCH) $212.57 (-3.28%)
  • Litecoin (LTC) $53.24 (-2.51%)
  • Bitcoin (BTC) $7,954.86 (-1.94%)
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
12:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:48
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:59
Samsung SDS partners with Tech Mahindra and Pega to launch blockchain-based traceability solution
11:13
Telegram proposes to postpone TON blockchain project launch to April 2020, seeks investors’ consent
10:41
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft