A new United States Bill was recently approved, coined the National Defense Authorization Act. Which could very well lead to a more accepting Blockchain nation. Additionally, government bodies might jump on board the technology train.
One of the provisions of the NDAA bill is referred to as the MGT, Modernizing Government Technology Act. Personally, I really like the way that sounds.
What the MGT provision allows is for government regulatory agencies to move their saved funds into an internal capital funds account, which can then be used to help sophisticated their IT capabilities.
Throw down on the bill in consideration.
So, the bill pretty much allows any government agency that is authorized to do as it pleases with working capital in terms of improving technological initiatives pertaining to three areas. Cybersecurity, migration of old legacy systems to cloud computing services, as well as disruptive tech networks and platforms.
Despite not being expressly mentioned in the bill, it’s assumed that Blockchain technology will fall into the provisions of the bill. Thus, expect Blockchain tech to definitely see a lot of focus once the bill fully passes. Additionally, we will most likely see a lot of research time and funds being devoted to smart contract development.
High Governmental Support for Blockchain Technology
Vice President of the Information Technology Industry, Trey Hodgkins, stated he wants government agencies to have freedom in how they utilize their savings and what they develop.
The VP, clearly understand that Blockchain technology has a lot of benefits and can provide some amazing advantages and capabilities. Especially for US citizens. The goal of the bill is to add a great deal of flexibility as to where, why, and how excess or saved funds will be invested. Hopefully not on the dark web!
Additionally, the bill has already seen approval from the US Senate and House of Representatives. All we need to wait for now is Donald Trump’s approval. Though, this shouldn’t be a problem as the US Government generally supports the Blockchain ecosystem all around.
“These kinds of technologies are always something that we should explore. I don’t want my customers to be the last to know, or to be the last to be able to take advantage of some of these.”
-Margie Graves, Acting Federal Chief Information Officer – Office of Management and Budget.