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US National Strategy for Distributed Ledger Technology Development

This act aims to establish a national strategy for the development of distributed ledger technologies (DLT), such as blockchain. This means the US government will support research and development in these technologies, potentially impacting data security, digital service efficiency, and new commercial opportunities. The goal is also to examine potential risks and benefits for citizens.
Key points
The US government will develop a national strategy for distributed ledger technologies (DLT), including blockchain, to boost innovation and competitiveness.
Funding for DLT research aims to improve data security, privacy, and efficiency of digital services, potentially affecting daily transactions and online interactions.
The act mandates an analysis of potential benefits (e.g., lower transaction costs, better privacy protection) and risks (e.g., software vulnerabilities, fraud, environmental impact) associated with DLT to protect consumers.
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Additional Information
Print number: 117_S_4109
Sponsor: Sen. Wicker, Roger F. [R-MS]
Process start date: 2022-04-28