US Congressman and Blockchain Group Co-President David Schweikert submitted a bill to the commission to enable the use of digital signatures with the blockchain system.
It was stated that the bill aims to create a uniform national standard regarding the applicability of electronic records, digital signatures created on the blockchain system and smart contracts with the changes to be made in the Global and National Trade Law.
The Blockchain Group (Congressional Blockchain Caucus), co-chaired by Schweikart, who presented the bill, was established in 2018 to research and implement blockchain-based technologies. Since its establishment, they have been working on the spread of blockchain-based technologies.
Blockchain Wind Begins To Blow Around The World
The approval of this bill in the USA can give legal validity to blockchain-based digital signatures. Congressional Blockchain Caucus management thinks that blockchain technology can be used in many different areas from identity management to asset tracking in such a scenario. In addition, it is pleasing for the crypto money markets that almost all over the world, states have started to lean towards blockchain technology and digital signatures are included in the plans prepared for the future.
Blockchain breakthroughs and investments made by China are increasing day by day, and systems, digital signatures and smart contracts built on blockchain are becoming more common. On the other hand, a plan recently published in China included methods to turn the Chinese capital Beijing into a blockchain center.
States and companies all over the world are willing and making strides in creating solutions with blockchain technology, together or separately. The blockchain-based savings bond prepared by the Central Bank of Thailand, blockchain technology and digital signatures that have developed globally and are being used from time to time, with big names such as NASA, Alibaba and Renault turning to blockchain, seems to be used by the whole world soon and with much more.