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Senate approves distributed ledger R&D bill

“The Senate Commerce, Science, and Transportation Committee on May 25 approved a bill that would direct the White House Office of Science and Technology Policy (OSTP) to develop a national strategy for the research and development (R&D) of distributed ledger technologies.

The bill – titled National R&D Strategy for Distributed Ledger Technology Act of 2022 (S.4109) – focuses on technologies that enable distributed ledgers. The bill includes $1 million to develop the strategy along with authorization for competitive awards, the potential for applied research, and authorization for a study by the National Institute for Standards and Technology (NIST)…

The bill defines distributed ledgers as ledgers that are shared across a distributed set of devices or processes that: ‘participate in a network and store a complete or partial replica of the ledger;’ syncs between the set of devices or processes; and ‘has data appended to it by following the ledger’s specified consensus mechanism.’

By definition, the ledgers may be public or private and may be permissionless or require users to have certain permissions to access them. The bill directs the strategy to focus on technologies that enable applications of public and permissionless distributed ledgers…” Read the full article here.

Source: Senate Commerce Clears Distributed Ledger Tech R&D Bill – By Lamar Johnson, May 26, 2022. MeriTalk.

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