IBM/MIT Connection Science Release a Responsibility Of Blockchain In Administration Report


Recently, MIT Connection Science, in conjunction with IMB released a joint report on the outcome of three roundtable deliberations on the responsibility of blockchain in government. Thomas Hardjono, who authored the report, is also the technical director at the MIT Internet Trust Consortium.

Thomas expounded on the deliberations which included leaders from both the private and public sectors. They discussed on the impact that blockchain would have on payments, virtual identities, as well as supply chain. The report was issued in consultation with the Congressional Blockchain Conclave.

The report pinpointed three subjects which were prominent during the roundtables. These included the necessity for leadership as well as vision from the administration of the United States, the necessity for partnership between industry and administration, as well as the need to intensify support for research and test-bed use of the innovative blockchain knowhow.

Leadership and foresight from the administration

According to the report, there is need for a grander vision and leadership across the current administration with regard to the establishment of an economy based on virtual blockchain. IBM’s Jerry Cuomo echoes these views by asserting that the innovative blockchain know-how is ready for the administration now, and that it is high time the administration also became ready for it.

In the report, the case study of ‘sandbox’, a creation of the state of Arizona is highly commendable. This is because the innovation assists firms to establish and innovate blockchain knowhow. In many ways, this is an appropriate prototype that the federal government can use.

Snowballing research and test-bed positioning

According to the report, the roundtable moderators also took time to analogize the necessity for the administration to offer its support for research and test-bed positioning. In this regard, the innovative blockchain knowhow ought to be deployed with significant financial support through the DAPRA (the Defense Advanced Research Projects Agency). Similar investments were made in the 1970s and 80s when the government needed to carry out research into the IP Internet.

Close partnership between industry and administration

Another subject which was prevalent all through the roundtable discussion was the need for technology to work closely with virtually all levels of administration. In this way, it will be possible to undoubtedly demonstrate the value of the innovative blockchain knowhow and its prospective role in the future of the economy.

Even though the report seems to put the obligation for this partnership on the private sector, it is also vital to educate the administration of the United States. This is because it ought to be a willing partner in assisting the industry to develop and mature. On the other hand, it is also vital for the industry to demonstrate actual production examples of blockchain deployment across diverse sections of the economy.

Another idea which was floated was the need for the administration to establish a commission for virtual blockchain economics as well as blockchain knowhow. It was also noted that it is necessary to boost the need for interoperability as well as the ease of use. This, however, ought to be done by using good practices, and not necessarily legislations or time-consuming regulations.

The roundtable deliberations was graced by representatives from notable firms in the private sector which included IMB, Seagate, Endor, Sweetbridge, Microsoft, Ripple and Risk Cooperatives among others.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide