IBM Exec to US Gov’t: ‘Safeguard’ Blockchain Innovation or Risk Falling Behind

IBM Blockchain Technologies Executive Jerry Cuomo testified on May 16 before the President’s Commission concerning National Cyber Security. Cuomo spoke on the attributes of blockchain technology and its use in society. The meeting involved a panel of government officials and other technological firm representatives.

Also read: Vitalik Buterin: Russia’s Crypto Ban Would Stifle Blockchains

IBM Familiarizes Gov’t with New Tech, Again

IBMJerry Cuomo has been heading IBM’s blockchain initiative since the company started its research and development with the protocol. The multinational corporation has also partnered with the Linux Foundation’s Hyperledger, which offers distributed ledger tech within a cloud-based system.

Testifying before the commission in New York City, Cuomo wants leaders to look into the benefits of blockchains as soon as possible. Cuomo and many others believe the technology could enhance national security and financial matters, ensuring immutable record keeping and curb cyber attacks. IBM’s chief of blockchain technology said to the commission:

Blockchain has tremendous potential to help transform business and society, but it’s so strikingly different from what people are used to that many business and government leaders are adopting a wait-and-see attitude — We applaud judicious caution, but, at the same time,

Read more ... source: TheBitcoinNews