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Caught Our Eye

Blockchain brings lobbyists to Washington

Posted by Keturah Hetrick on Sept. 29, 2017

A blockchain advocacy group disclosed its first federal lobbying activity just as President Donald Trump's administration reaffirmed its interest in the technology.

The Chamber of Digital Commerce is lobbying on "issues related to digital assets and blockchain-based technologies," according to a disclosure filed this week. Blockchains create decentralized databases of transactions. Blockchain is most famously used in Bitcoin transactions, though the technology's uses aren't limited to cryptocurrencies.

The White House has repeatedly expressed interest in the technology's potential. Speaking at a conference this week, the Office of Management and Budget's federal chief information officer stated that blockchain's governmental uses could include waste and fraud reduction, spending cuts and increased cybersecurity defenses, according to an industry publication.