Blockchain
The United States White House released the National Standards Strategy for Major and Emerging Technologies on May 4. The national strategy identified eight technology sectors that will have a major economic impact in the near future.
Of the eight technologies that focus on artificial intelligence, communications and networking technologies, biotechnology, semiconductors, and more, the list of distributed ledger technology (DLT) and digital identity infrastructure attracted the most attention from the crypto community.
DLT enables concurrent access, record validation, and record updates across a networked database. Blockchain technology is based on DLT, allowing users to see all changes and the people who made them, reducing the need for audit data, ensuring data reliability and restricting access to only those who really need it.
The national strategy aims to strengthen US leadership in developing international standards for these emerging technologies. The US government is actively involved in building synergies with the private sector to promote and build international standards for such emerging technologies.
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The most prominent example of such cooperation and standard development is the development of telecom and communication standards. For example, the first proposal for 3G was made in the 1990s by Qualcomm Technologies, and the subsequent proposal for LTE, the dominant wireless broadband communication standard for mobile devices and data terminals, was made in the 2000s by NTT Docomo, a major Japanese provider of mobile phones.
The national strategy suggests that DLT and digital infrastructure will have an increasing impact on and widespread use in the economic sector. Some of the key areas where these technologies will be actively tested are automated and connected infrastructure, such as smart communities and the Internet of Things (IoT). DLT can be used especially well when building cybersecurity and privacy-based features and services.
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