Move Over Crypto: Congress Holds Hearing On Blockchain Benefits For Small Business

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The U.S. House Small Business Committee is hosting a hearing on March 4, 2020 called, ‘Building Blocks Of Change: The Benefits Of Blockchain Technology For Small Business’. As opposed to a focus on policies around cryptocurrencies such as Facebook’s Project Libra since June of 2019, the Small Business Committee is taking a fresh look at the distributed ledger technology known as blockchain and how the technology – separate from the application of cryptocurrency – can support small businesses in the United States.

Where Congress has seen a number of hearings that are negative on cryptocurrency or put the technology on the defensive, particularly with the hearings on Facebook’s Libra cryptocurrency, this hearing may help change the narrative in DC from the focus on more stringent regulations for crypto with an broader conversation into how the technology can provide use cases in a variety of economic sectors.

A livestream of the hearing is available here and a full report will be provided in an additional story later today.

 

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