Transparent Legislative Process
Republican McCarthy floated the idea in front of the Select Committee on the Modernization of Congress, last Tuesday. During his speech, he said that blockchain was fundamentally changing the financial landscape. Blockchain has the ability to revolutionize “the security of the financial industry and that it can also help transform the transparency of our own legislative process.”
McCarthy stressed that not adopting the technology meant the government was falling behind in the international arena, “Why would we wait around and why wouldn’t we institute blockchain on our own?” and “As technology continues to change our life, let’s make sure Congress has the same ability to do it … to make this place more effective, more efficient, and most importantly more accountable.”
The Republican gave a number of examples as to how the government in the past had adopted technological innovations that had helped in improving how the institutes operated. He cited bills such as Strengthening and Enhancing Cyber-capabilities by Utilizing Risk Exposure Technology Actand Tested Ability to Leverage Exceptional National Talent (TALENT) Actthat have helped the U.S. government bring new technologies into their use.
McCarthy further urged the Congress through his personal plea and belief in upcoming technologies, “What I’m looking for is building greater confidence in the institution that we have – utilizing the 21st century technology to make us more customer friendly but at the same time give us greater information that can hold us accountable in this process.”
Republican McCarthy is an open proponent of adopting blockchain. Last summer in July 2018, he was a part of a U.S. lawmaker group that also proposed blockchain usage. The group, citing the traceability, tracking and efficiency of the decentralized technology, wanted to use blockchain in an experimental project to increase the effort to fight infectious diseases.