Republican Leader McCarthy Proposes Blockchain Transparency in Government

Republican leader Kevin McCarthy has called for an exploration to see if blockchain can make the U.S. government more efficient and transparent.

Mar 14, 2019 at 2:30 p.m. UTC
Updated Sep 13, 2021 at 8:59 a.m. UTC

Kevin McCarthy, the Republican leader of the U.S. House of Representatives, has called for an exploration to see if blockchain can make the U.S. government more efficient and transparent.

In a speech before the Select Committee on the Modernization of Congress on Tuesday, McCarthy said that blockchain is “revolutionizing” the security of the financial industry and that it can also help transform the “transparency of our own legislative process."

“Why would we wait around and why wouldn’t we institute blockchain on our own?” he asked, adding:

“As technology continues to change our life, let’s make sure Congress has the same ability to do it ... to make this place more effective, more efficient, and most importantly more accountable.”

McCarthy also gave a couple of examples of how embracing innovative technologies through passing new legislation in the past has helped improve government processes.

“So as technology continues to change our life, let’s make sure Congress has the same ability to do it,” McCarthy said, concluding:

“What I’m looking for is building greater confidence in the institution that we have – utilizing the 21st century technology to make us more customer friendly but at the same time give us greater information that can hold us accountable in this process.”

Last July, McCarthy, along with a group of U.S. lawmakers, also proposed the creation of a blockchain pilot as part of a wider effort to combat infectious fungal diseases.

Kevin McCarthy image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
The Curious Case of Coinbase's India Communications Strategy

Reverberations remain from the company's ill-fated Indian launch.

Reverberations remain from the company's ill-fated Indian launch.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: Crypto Carbon Trading Is Racing to Clean Up Its Act; Cryptos Drop Even as Stocks Rise

Carbon credit protocols have had a difficult time in recent months but have been working to improve the way they operate; bitcoin outperformed other major cryptocurrencies in Thursday trading.

Carbon credit protocols have had a difficult time in recent months but have been working to improve the way they operate; bitcoin outperformed other major cryptocurrencies in Thursday trading.

CoinDesk - Unknown
3
CoinDesk - Unknown
Terra Devs Need a Home. Other Blockchains Are Courting Them

Armed with multimillion-dollar ecosystem funds, chains like Polygon and Kadena are trying to woo coders whose work is endangered by Terra’s meltdown.

Armed with multimillion-dollar ecosystem funds, chains like Polygon and Kadena are trying to woo coders whose work is endangered by Terra’s meltdown.

CoinDesk - Unknown
4
CoinDesk - Unknown
Circle Recommends Against a Digital Dollar, and Ethereum Beacon Chain Suffers Longest ‘Reorg’ in Years

The most valuable crypto stories for Thursday, May 26, 2022.

The most valuable crypto stories for Thursday, May 26, 2022.

CoinDesk - Unknown