Blockchain is “World Changing” Technology, Says Rep. Ralph Abraham

Congressional subcommittees met on Tuesday (May 8) in a hearing to discuss the role blockchain and other distributed technologies could play in providing greater supply chain visibility.

Titled “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods,” the overall purpose of the hearing was to overview the potential and proven applications of blockchain and distributed ledger technology in shipping, logistics and customs, specifically emphasizing the supply chain management.

The joint hearing, which was moderated by two subcommittees of the US House of Representatives’ Committee on Science, Space and Technology, is the second one of its nature to held so far this year.

Chairman Ralph Abraham said in his opening statement that the committee recognizes blockchain and distributed ledger technologies can benefit both the private and public sectors and “seek to understand what can be done to ensure this technology is appropriately leveraged in an efficient and productive manner.”

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