Blockchain hearings are held in the US House of Representatives: Blockchain is changing
The House of Representatives has once again held a blockchain hearing at 10 am on February 14th, and this time the hearing was attended by two subcommittees of the US Science, Space and Technology Committee. The theme of the hearing was: "Beyond Bits Currency: emerging applications of blockchain technology." Hearing purpose It is hoped that through this hearing, the legislative and investigative action rights for the application of blockchain technology in this field will be obtained. Main personnel FrankYiannas, Vice President, Food Safety, Walmart Charles Romine, head of the National Institute of Standards and Technology (NIST) Jerry Cuomo, Vice President, Blockchain, IBM US Congress Research Services Analyst Chris Jaikaran And Aaron Wright, Associate Professor of Intern, Benjamin Cardozo North Road School of Law Bianews exclusively tracks and compiles the hearing. The following is a record: At the beginning of 2017, Wal-Mart and IBM conducted two proof-of-concepts that successfully demonstrated that blockchain technology can provide a viable solution to track and validate foods sold from origin to store in a fast, accurate and accurate manner. At the end of the trial, we were able to demonstrate that from the store back to the farm, we were able to improve from a 7-day improvement using traditional methods to 2.2 seconds using a blockchain platform to obtain a source of sliced ​​mango. This is “food traceability at the speed of thinkingâ€. Since the food system is global, our second proof of concept is in China, which involves pork, one of the most important animal proteins in China. By using blockchain technology, not only can pork be returned to the farm from various Wal-Mart stores, but the authenticity of the product can be guaranteed and its records can be accessed. In the store, pork can be scanned with a simple QR code to extract digital real production and veterinary records from the corresponding farm where the animal is raised. The increase in traceability is one of the many reasons we are interested in blockchain technology. However, we believe that blockchain can achieve more than just traceability. It can lay the foundation for a variety of other benefits. I only mention the following aspects: Optimize the supply chain: A small improvement in the supply chain can bring huge benefits. Blockchain technology, the foundation of the new information superhighway, coupled with artificial intelligence and the Internet of Things (IoT), enables instant access and insight into large amounts of data to create a safer, more efficient and more sustainable food system. Reduce food waste: One-third of all food produced is wasted. One of the benefits of smarter food systems is that it enhances the flow of food, allowing consumers to access newer products and reduce food waste at home and throughout the food continuum. Achieving transparency: Today's consumers want more from their food systems. Consumers want to know more about their food. Where does it come from? Is it sustainable? The blockchain can serve as a basis for obtaining this information and ultimately providing it to customers, thereby increasing consumer confidence and trust. Again, our ultimate goal is to achieve food transparency. By getting rid of the occultity of the current food system, blockchain technology will play a huge role in every step of food production and flow. Increased transparency will give us a greater sense of responsibility and ultimately a safer, more efficient and more sustainable food system that will help people save money and live better. The US House of Representatives reopened the blockchain hearing: the blockchain is changing the pattern Most people who have heard of the blockchain associate it with the digital cryptocurrency bitcoin. Although they are related, it is important to understand that they are not the same thing. Bitcoin is just one example of using blockchain technology. Bitcoin operates in collaboration with a network of anonymous participants. However, the blockchain can also be used as a trusted network to handle interactions between known parties by using permissions. Let's make an analogy. The Internet like blockchain is a transformation component of many communication types. Bitcoin and other forms of digital cryptocurrency are just a use of blockchain, just as social media is just a usage of the Internet. . We have approached customers in more than 400 blockchain projects including supply chain, financial services, government, healthcare, travel and transportation, insurance, chemicals and petroleum. This experience has guided us to establish three key beliefs that I would like to share with you today: 1. Blockchain is a transformative technology. 2. The blockchain must be open. 3. Today, the blockchain is ready for business and government. First, the blockchain is changing the landscape. In today's digital network world, no single institution can survive and work independently. At the heart of the blockchain is the concept of a shared, unchanging book. You see, every member of the blockchain network has an accurate copy of the ledger. New entries in the ledger are propagated throughout the network. Therefore, all participants in the interaction have up-to-date books that reflect recent transactions, and once these transactions are entered, they cannot be changed in the ledger. The power of change in the blockchain is that it makes it possible to share a shared copy of the truth. As a result, a team can achieve far more achievements than any member can achieve. Now let me answer for you how the blockchain really changes the landscape. 1. Time can be saved because multi-party transactions can be resolved immediately, avoiding consumable reconciliation processes that often take days or even months. 2. As the business-to-business process eliminates the overhead caused by “middle-manâ€, the cost is reduced. 3. The book as an immutable audit trail proves that the possibility of tampering and collusion is greatly reduced, so the risk is greatly alleviated. In order for the blockchain to realize its potential, it must be based on non-proprietary technology. Doing so encourages the adoption of a wide range of technologies and ensures system compatibility and interoperability. Specifically, this blockchain for enterprise use must be built using open source software, combined with flexible licensing terms and strict management of the open community, which means that no organization can control the direction of the project and will not lock any one. supplier. As we have seen on the Internet, only open, blockchain can be widely adopted and innovated. For this reason, IBM is participating with more than 180 industry elites in the Hyperledger organization led by the Linux Foundation. Hyperledger is a collaborative open source, open standards and open governance effort designed to advance cross-industry blockchain technology for businesses and governments. Blockchain Faith 3 - Today, blockchain is ready for business and government Not all blockchain technologies are equal. For a wide range of commercial and government uses, enterprise blockchain technology now addresses four basic requirements: accountability, privacy, scalability, and security. We are working with many government entities on the adoption and use of blockchain technology: from the US FDA, CDC and OPM organizations are exploring how the blockchain can reduce the complexity of the Smart Dubai program to Canada's trusted digital identity program. Because US government agencies such as NIST actively participate in the exploration of blockchain standards, US companies are leading the way in blockchain technology development. Although the blockchain is still a team movement, the United States has the opportunity to lead the development of the blockchain by “trying to do itâ€. I would like to make some suggestions and hope to have a spleen on the road explored by Congress and the Trump administration. First, we should focus on projects that have a positive impact on US economic competitiveness, citizens, and businesses. Second, careful addition of blockchains to the right projects that have already been invested will help ensure that we remain at the forefront of this transformative technology. Finally, and perhaps most importantly, when considering regulatory policies, recognize the difference between the use of blockchains in new currency forms and the wider application of blockchains. The blockchain is ready for the government, and it is time for the government to prepare for the blockchain. We at IBM are ready to assist in the analysis of any such policies and are happy to work with Congress to ensure the continued expansion and successful use of the blockchain. Thanks for this opportunity to discuss such an important topic for our present and future. In short, at IBM we believe: 1. Blockchain is a transformative technology: it enables many people to realize more possibilities that individuals cannot achieve. 2. The blockchain must be open: only in this way can the blockchain be widely used as a springboard for innovation. 3. Today, the blockchain is ready for business and government use: it provides accountability, privacy, scalability and security. At IBM, we are actively working to ensure that companies and governments implement this technology with thoughtful consideration, and we believe that the United States has the opportunity to lead the field. The US House of Representatives reopened the blockchain hearing: the blockchain is changing the pattern Dr. Charles H. Romine, Director, Information Technology Laboratory, National Institute of Standards and Technology Most SDOs are industry-led private sector organizations. Many voluntary consensus standards from those SDOs are appropriate or adaptive for the purposes of the US government. OMB Circular A-119 directs US government agencies to use such standards wherever practicable and appropriate to achieve the following objectives: Eliminate the cost of the federal government to set its own standards, reduce procurement costs and comply with the burden of institutional supervision; Provide incentives and opportunities to establish standards that meet national needs, encourage long-term growth of US businesses and promote efficiency, economic competition and trade development; Further relying on the expertise of the private sector to provide cost-effective goods and services to the federal government. When properly implemented, standards development can increase the productivity and efficiency of governments and industries, increase innovation and competition, increase international trade opportunities, conserve resources, increase consumer interests and choices, and improve health and safety. In the area of ​​blockchain standardization, NIST is actively participating in consensus-based, documented standards development at the national and international levels. For example, NIST participates in the American Standards Council X9 (ASC X9) and INCITS and will participate in the newly proposed IEEE Blockchain Initiative. NIST also participated in the ISO Technical Committee 307, blockchain and distributed ledger technology. While financial organizations are likely to be the most affected businesses in the blockchain, the potential uses and opportunities of blockchain technology have surpassed digital currencies. For example, companies that hold land ownership, marriage certificates, or birth records that need to maintain public records can make full use of the blockchain. Blockchain also has great potential for storing and recording supply chain records. The blockchain can record every step of the product lifecycle: when it is created in the factory; when it is shipped and then shipped to the store; at the time of purchase by the consumer. New industries may also benefit from the blockchain. Such industries include several notaries who attempt to prove that someone is accessing specific information by recording a hash in the blockchain. Blockchain is an exciting technology that makes it possible to use a powerful and proven trust model to truly address business and consumer needs. We still need to do a lot of work to understand the technology, unlock its potential, and set a stage for the market to reward the availability and security of the actual customer needs. NIST will continue to research and develop the basic cryptography used by the blockchain. We will continue to learn from our research and continue to build relationships with the industry in the publication guide. NIST continues to work with international standards organizations that have established research groups and technical committees to standardize the blockchain. This is an exciting time as blockchain technology floods into markets and industries. Thank you for your testimony about NIST's blockchain work. I am very honored to answer any questions you may have. Aaron Wright, Associate Associate Professor and Co-Director, Blockchain Project, Benjamin Cardozo School of Law Importantly, for this hearing, the blockchain is not only useful for virtual currency such as Bitcoin. They support a range of online services that attempt to use this technology to store information and run computer processes in certain areas that may potentially affect various industries in the United States. Here I will highlight some examples: Given the nascent nature of blockchains and the fact that most of the innovations around blockchain technology are ongoing, the US government has a unique ability to shape the development of this technology by enacting laws and regulations that will limit or promote this. The development and adoption of a technology. The United States may choose to implement regulations to develop or operate blockchain-based services that make this technology more expensive or difficult. Instead, the United States can implement a favorable regulatory framework to protect companies in the experimental blockchain as part of supporting innovation policies. Given the early stages of development, it is still possible to gain the benefits of limiting the shortcomings of blockchain technology. The United States has the ability to rely on civil society, contract negotiations, voluntary agreements, and ongoing market trials to address regulatory issues related to blockchain. And even if collective behavior is necessary, there is an opportunity for industry self-regulation and private sector development. However, as a guiding policy, I hope that the United States will be able to conduct thoughtful, technology-neutral regulation: Allowing the exchange of blockchain-based assets and scarce digital goods, especially those used, purchased and enjoyed by consumers; Enables parties to build new blockchain-based protocols without having to worry about regulatory review to address the technical limitations described above; Providing a predictable, simple, consistent and simple legal environment to protect consumers while not segregating absolute participants in the market; Revisit existing laws and regulations that may hinder blockchain transactions. To support these research and policy goals, I will encourage Congress to consider appointing a national blockchain committee that aims to consolidate US technology by exploring ways to invest in blockchain-related research, such as through incentives or others. Promote economic growth and innovation, and help ensure that blockchain innovations are created here. The committee can: Use the general principles of equipment to help guide the federal government's approach to regulating blockchain technology in various areas to protect financial privacy, personal autonomy and consumer protection rights; Hearings, research, and advice to industry, administration, and Congress. Through the above approach, we can ensure that the United States remains the best place to develop, launch and develop blockchain projects. The United States can stay ahead when it comes to Internet-based technologies and sensible measures to guide its development. The US House of Representatives reopened the blockchain hearing: the blockchain is changing the pattern Chris Jaikaran, Network Security Policy Analyst, US Department of Government and Finance, Congressional Research Office Although the blockchain has been used as a financial instrument, it is relatively new in other economic sectors. Due to its novelty, the blockchain is being tested in various industries. But at the moment it does not seem to be a substitute for the existing system. With these conditions in mind, when faced with potential legislative actions, the technology does not include the same level of adoption as prior art. However, Congress can still provide supervision by federal agencies to seek: Use it for government business Use blockchain to regulate the industry. The US General Services Administration and the Department of Homeland Security are examining the blockchain as a way to improve the efficiency of current government operations. In these tests, the federal government is looking for better ways to manage identity, assets, data, and contracts. Institutions such as the Securities and Exchange Commission and the Commodity Futures Trading Commission are issuing announcements to the industry on blockchain technology. In some cases, these actions are intended to explicitly state that the legal framework currently used to manage other transactions also applies to blockchain transactions. In both areas, Congress may want to assess whether these institutions are achieving the policy goals of Congress. These goals may be technically unknowable, so they have already been proposed, or Congress may set new policy goals for the adoption of emerging technologies across sectors. During the hearing, Wal-Mart, IBM, and NIST gave explanations on the application of blockchain technology in their respective fields, the functions they have and their future application expectations, and made a series of recommendations to Congress, including regulatory policies. The use of blockchains in new currency forms and the wider application of blockchains should be distinguished. The spokesperson for the blockchain project of Benjamin Cardozo Law School also expressed the hope that the US will be able to conduct thoughtful and technology-neutral supervision as a guiding policy. The Congress and the Congressional Research Office said that the US General Services Administration and the Department of Homeland Security are examining the blockchain as a way to improve the efficiency of current government operations. But at the same time, it also seems that it does not seem to be a substitute for the existing system. 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