Recommendation
Congress should fund a government blockchain pilot projects program.
Details
Many transactions require using a trusted intermediary such as a bank or a government agency, which creates a constraint during physical distancing when these institutions are unavailable. Blockchain is a technology that creates a distributed digital ledger that allows multiple parties to engage in secure, trusted transactions with one another without an intermediary and without physical contact. By investing in blockchain pilot projects, government agencies can accelerate the deployment of this technology, thereby creating more opportunities for automation and digitalization in the economy.
Keep reading:
▪ Robert D. Atkinson, et al., “Digital Policy for Physical Distancing: 28 Stimulus Proposals That Will Pay Long-Term Dividends” (ITIF, April 2020), https://itif.org/publications/2020/04/06/digital-policy-physical-distancing-28-stimulus-proposals-will-pay-long-term.