Last week, bipartisan legislation was introduced to the House of Representatives that aims to direct the government into utilizing blockchain technology to secure transactions and protect US consumers from fraud. The bill has gained traction in Congress as it moves forward through the process of becoming law. The legislation, called the Blockchain Innovation Act, was created by Representative Darren Soto.
The bill would essentially amend the Artificial Intelligence for Consumer Product Safety Act. The hearing was lead by the House Committee of Energy and Commerce, who decided to favorably report eh AI bill as amended with the blockchain focus addition. This means that the bill will soon reach the House of Representatives to be voted on by elected officials.