Blockchain Research Institute has recommended US Government to embrace the digital dollar and digital currency in its report on how the federal government can lead into the next era of the digital age.
“Some tokens such as bitcoin and ether are widely understood not to be securities under federal securities laws. Creating clear definitions and spaces for these tokens would not only benefit US innovation but keep innovators within the United States. Drafting legislation that spells out these criteria, amending securities laws as we suggest herein, and creating safe harbors or other exceptive relief would greatly reduce the legal uncertainty around this nascent set of digital technologies.”
The Blockchain Research Institute, in collaboration with the Washington DC-based Chamber of Digital Commerce and other experts have produced a 120-page report on how the Biden-Harris administration could reimagine US technology strategy and policy—and take action to implement it.
Don Tapscott, Anthony Williams, and Kirsten Sandberg are the principal authors with a foreword by Tony Scott, former Federal CIO of the United States in the Obama-Biden administration.
The report mentions that the Biden-Harris administration arrives at a unique time in history. The pandemic exposed problems at all levels of government, creating a demand pull for transformation. The advent of the second era of the digital age, with a “trivergence” of blockchain, artificial intelligence, and the Internet of Things, is creating an innovation push. The report advocates for government leaders to acknowledge the new digital realities and develop a comprehensive framework for ensuring justice, sustainability, citizen trust, social cohesion, and good governance. To do this, federal leaders must get up to speed quickly on these technologies.
The report outlines five broad areas of change, each of which addresses major priorities for the new administration. Among the dozens of recommendations are the following.
- Ensure security, privacy, autonomy, and citizen-owned identities
- Embrace the digital dollar and digital currency
- Retool government services and service delivery to meet world-class digital standards
- Engage citizens, hold elected officials accountable, and rebuild trust
- Reboot America’s innovation economy to include a diversity of entrepreneurs
According to the report, digital transformation is not just about modernizing technology and tools. It is about adopting appropriate digital technologies to change how we work, deliver public value, and build prosperity through the emerging digital economy.
It also advises fresh new thinking about the role of the new digital age in the economy, body politic, and society. The goal is to ensure the fulfillment of the new promise of technology and the minimization of the dark side, the dystopian futures.
Leaders are encouraged to take personal responsibility to learn about these threats and opportunities and foster a bi-partisan culture of innovation and a commitment to change. Read the full report here.
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