US Government Wants to Lead in Distributed Ledger Innovations

The White House has released a national standards strategy for emerging technologies such as distributed ledger technologies.

Distributed ledger technology (DLT) is fundamental for the functioning of blockchain. The idea is to simultaneously distribute the data in a network of devices to enhance the immutability and transparency of critical information.

U.S. Wants to Lead Innovation in Distributed Ledger Technology

On Thursday, the White House released a “U.S. Government National Standards Strategy for Critical and Emerging Technology” report. 

The report mentions the government’s ambitions to lead in the eight new arenas, such as artificial intelligence (AI), machine learning, digital identity infrastructure, and DLT.

The report for critical and emerging technology (CET) mentions:

A proactive and sustained long-term approach is required to ensure that the United States remains a global leader in contributing to the development of fair, merit-based standards for CET.

Attack on Crypto Mining?

However, the Biden government has attacked DLT as it wants to impose a 30% tax on crypto mining.

Miners validate the transactions through proof-of-work (PoW) consensus mechanism and keep the blockchain and the underlying distributed ledger secure.

But with high taxes, some miners might turn off their mining rigs, negatively impacting the security of the blockchain.

The government, though, has been open to the progress being made in AI. On Thursday, BeInCrypto reported that the Biden administration had unveiled additional steps to foster responsible AI innovation.

And the U.S. National Science Foundation has allocated a sum of $140 million for seven new national AI research institutes.

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