IBM recommends that the U.S. government properly regulate blockchain technology

Yesterday, Jerry Cuomo, head of IBM's blockchain technology, explained the importance of this technology to the US National Cybersecurity Experts Group.

In February this year, US President Obama established the National Cybersecurity Experts Group to ensure national cybersecurity. The group members include General Keith Alexander, former head of the US Cyber ​​Command, Ajay Banga, chairman and CEO of MasterCard, Joe Sullivan, chief security officer of Uber, Professor Annie I Antón of Georgia Institute of Technology, and Mike Lee, vice president of Microsoft Research and Development.

Jerry Cuomo said in his speech that the potential of this technology is great enough to transform business and society. He pointed out that many people, especially in the business field, know nothing about blockchain technology and always keep a cold attitude. He said:

Being cautious is definitely not a bad thing. At present, blockchain technology is bringing disruptive changes to the world, so we believe that companies that do not understand and try blockchain technology as soon as possible will only experience greater risks in the future.

IBM is leading the Hyperledger blockchain project, which is overseen by the nonprofit Linux Foundation and includes Intel and JPMorgan Chase, which have already proposed a detailed implementation plan for the project.

During the meeting, Cuomo advocated that the government use blockchain technology in areas such as identity authentication, transaction security, data tracking and intelligence sharing. He also encouraged the government to always take a positive attitude towards emerging technologies.

The government should not attempt to constrain this new financial system, which can improve government efficiency and ensure the security of government work.

We must establish a new social contract: one in which businesses work together to build the future of the financial services industry, under the appropriate regulation of government.