Nine members of the US Congress have argued for the benefits of using blockchain technology to counter the COVID-19 crisis.
US congressmen demand blockchain integration
The letter was compiled by a congressional Blockchain group led by four co-chairs, Tom Emmer, bill foster, David Schweikert, and Darren Soto. They sent a letter to US President Donald Trump and Federal regulators urging them to consider blockchain as a viable strategy to mitigate the economic impact of COVID-19.
With increasing demand for funding and healthcare, the blockchain architecture will allow “ seamless identification, while its strong encryption protects sensitive data.` The letter read:
We live in tough times that have made us more dependent on digital solutions than ever before. In addition, with the help of blockchain, the financial support packages that the government planned to distribute to eligible individuals will be transferred in an efficient, flexible and secure manner. They advocated that the technology would bring huge benefits to the population in order to fight the coronavirus, when everything is done remotely.
The bill also explains that blockchain technology will protect a person’s identity digitally during the authentication process, and that it will offer a secure storage system thanks to its robust encryption features.
Decentralized Ledger technology will also facilitate the necessary transfers of funds when people receive government benefits. The initiators also explained that there are many ways to use DLT to improve digital interaction and maintain a “reliable, accurate, flexible and secure“ digital infrastructure that will be very useful for the overall economic prosperity of the country.
The sentence read:
There are many examples of how blockchain can simplify our digital interaction. Among some potential solutions, it can help with identification, supply chains, and registries. Lawmakers have proposed using blockchain not only to manage the supply chain, but also to store registers of licensed medical personnel and first-line medical workers. This would allow for a more effective identification system, and then qualified medical care could be deployed more effectively, easing the burden caused by the pandemic.