The U.S. Accounts Chamber proposed options for using the blockchain

Published: 28.03.2022

Article reading time:
1 minute.

At the request of Congress, the U.S. Accounts Chamber presented recommendations to political structures on the use of blockchain, in which they outlined four options for using the technology.

In the document, experts noted the potential of the blockchain, stating that it can help improve the financial and non-financial systems of the country. In their opinion, the blockchain can increase the speed of the rights registration system and reduce the cost of their insurance, making the process simple and reliable. However, analysts are concerned about the ambiguity of some of the benefits, the reliability of the data, and the lack of a clear legal framework.

The document is intended primarily for US political structures such as federal agencies, state governments, and local governments. It should push them to work out a clear set of rules and requirements for blockchain implementation. The paper also outlines non-financial implementations of the technology, including federal government operations, voting, urban infrastructure, and pharmacology.

First of all, the Accounts Chamber proposes to solve blockchain problems related to interoperability and data security. To facilitate the adoption of the technology, the Accounts Chamber recommended that government agencies pay attention to security, control, educational materials, and focus on global standards for the use of blockchain.

California congressional candidate Aarika Rhodes previously said she plans to use cryptocurrencies to facilitate and protect welfare payments to poor Americans.