VTF Advocates for Two Blockchain Amendments to be Included in Annual Defense Budget Bill

As reported by Coindesk, the US House Passes Two Blockchain Amendments in Annual Defense Budget Bill thanks to the advocacy of Congressman Darren Soto (D-FL) and the Value Technology Foundation, who seeks to have the DoD fund Blockchain R&D in order to ensure the US military does not fall behind its adversaries. As detailed here, the following key provisions authored by Rep. Soto were passed unanimously:

• Blockchain Technology Amendment: Enumerates the elements of an uncompleted briefing from the FY20 NDAA conference report on the potential use of distributed ledger technologies for defense purposes by the Under Secretary of Defense for Research and Engineering and adds a reporting requirement. The report is to summarize key findings of the briefing, analyze research activities of adversarial countries, make recommendations for additional research and development within the Department and analyze the benefits of consolidating research within a single hub or center of excellence within the Department for distributed ledger technologies.

• Blockchain Technology Amendment: Adds “distributed ledger technologies” to the definition of “emerging technologies” so that it be included in the assessment of what must be done for the United States to maintain their technological edge performed by the newly formed Steering Committee on Emerging Technology and Security Needs.

The Value Technology Foundation looks forward to continuing to advocate for federally-funded Blockchain R&D, including by the DoD, as a key part of its mission to ensure that the U.S. is a leader in DLT technologies.