Blockchain, Featured

IBM Blockchain Report Insists United States To Lead Product Innovations

The latest IBM blockchain report has urged the United States to invest and empower this revolutionary transformation. The report has created a buzz in the global market which is anticipating a huge investment in the field of ledger technology in the upcoming years. It informs that this technology will be creating a new generation of internet and the United States is likely to become the market leader of this ecosystem.

According to Bitcoin Exchange Guide, the report is written by the director of the MIT Trust: Data Consortium, Thomas Hardjono. The report is a crucial précis of a series of roundtable meetings held by the Congressional Blockchain Congress (a group of lawmakers favoring for blockchain technology). The meetings mentioned in the report took place in 2017 and 2018 to explore the possibilities of benefits from the blockchain industry. These meetings were ordered by representatives David Schweikert and Jared Polis.

A total of three meeting were conducted which focused on digital identity, payments, supply chain, and provenance. The presentations were given by IBM, Microsoft’s Decentralized Identity Foundation, Ripple, Joust Bank, the National Institute of Standards and Technology, the Linux Foundation, the Sovrin Foundation, and Sweetbridge.

However, The IBM blockchain report did not provide any particulars on the attendees or which tasks they may have represented.

Agenda Of Meeting

The report also mentioned that some of the world’s biggest industries have already agreed on the fact that blockchain will turn out to be a leading edge of the next-generation internet economy. In addition to this, it also added that it is necessary for the government and industry to work in collaboration for strengthening technological advancement and sustain a market position. This also needs to address potential policy and regulatory incompatibility that might restrict the growth of emerging blockchain economy. (Via Coin Desk)

The IBM blockchain report, at last, concluded that the United States government is required to allocate more resources and funds allocated to this budding yet rapidly evolving technology. Similarly, as the government did in the 1970s and 1980s to empower the early research of the internet.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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