Proposed Bipartisan Legislation Recognizes Bitcoin As A Technology That Supports Democracy
Bitcoin Magazine Proposed Bipartisan Legislation Recognizes Bitcoin As A Technology That Supports Democracy On Wednesday, the office of Rep. Gabe Amo issued a press release stating that Rep. Amo and Rep. Kim (R-CA) reint...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin Magazine
Proposed Bipartisan Legislation Recognizes Bitcoin As A Technology That Supports Democracy
On Wednesday, the office of Rep. Gabe Amo issued a press release stating that Rep. Amo and Rep. Kim (R-CA) reintroduced a bipartisan resolution supporting the use of distributive ledger technologies (DLT), including blockchain, to “support democratic governance, human rights, freedom of information, transparency, and innovation around the world.”
The resolution (the full text of which was not linked to in the press release) urges federal agencies to explore and support DLT and expresses Congress’ commitment to advancing responsible innovation on this technological front.
Rep. Kim commented on the importance of this technology in the press release.
“U.S. leadership in emerging technologies like blockchain not only improves Americans’ lives but also helps us advance transparency in U.S. foreign assistance, human rights, and freedom across the globe,” said Rep. Kim.
“This legislation is vital, especially as we see the Chinese Communist Party exporting its surveillance technologies and authoritarianism abroad. I am proud to join Congressman Amo to lead this bipartisan resolution to ensure the United States shines as a beacon of hope, freedom, and innovation on the world stage,” she added.
The press release also cited how, in Screven County, Georgia, the Bitcoin blockchain was used to safeguard election election results and provide transparency to voters, linking to this article, which tells the story of the event.
Simple Proof, the company that helped Screven County officials commit its vote tallies to the immutable Bitcoin blockchain also recently helped Republicans in Williamson County, Tennessee do the same with the results of its Republican leadership vote.
Simple Proof put itself on the map when it helped to secure the results of the most recent presidential election in Guatemala, the story of which is told in the short documentary Immutable Democracy. Thanks to the vote tallies from the election being safeguarded on the Bitcoin blockchain, the integrity of the election was upheld, despite efforts made to tamper with physical votes once voting had concluded.
The work that the company has done both in the U.S. and abroad is a testament to a point Rep. Amo made in the press release.
“Innovative technology like blockchain helps promote transparency and strengthen democratic institutions around the world,” said the congressman.
While the press release provided evidence of the Bitcoin blockchain being used to preserve democratic values, it didn’t differentiate between Bitcoin and other blockchains, many of which, by design, are less secure.
This post Proposed Bipartisan Legislation Recognizes Bitcoin As A Technology That Supports Democracy first appeared on Bitcoin Magazine and is written by Frank Corva.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Fed proposed stablecoin rule could trigger a 48-hour liquidation run
The Federal Reserve's proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours. An...
Ethereum is not instant, but collateral could make it feel that way
When a payment app tells you a transfer is complete, you start making decisions. You hand over whatever you've sold, spend the mon...
Riot Platforms repays $200M credit facility, releases 5,821 BTC from collateral
Riot's debt repayment enhances financial flexibility, enabling strategic Bitcoin management and potential growth in data-center ve...
Bear market fears grow; Bitcoin faces pressure despite $80K support
Investor caution amid potential bear market could dampen Bitcoin's growth prospects, highlighting the interconnectedness of financ...
Circle Exec Slams Germany’s Proposed 50% Crypto Tax Penalty
Circle’s Patrick Hansen stressed that the planned reform on crypto taxation would introduce a 50% substitute assessment for crypto...
Ethena Starts Backing USDe With Tokenized Stocks on Binance, Its First Equity Basis Venue
Ethena Labs will start backing its USDe synthetic dollar with tokenized U.S. stocks, naming Binance as the first venue for extendi...