In recent remarks at the DC Blockchain Summit, U.S. State Department Acting Under Secretary for Economic Growth, Energy, and the Environment Manisha Singh highlighted the importance of ensuring that policymakers act in ways that further American leadership and competitiveness in the blockchain industry.
Singh’s speech suggested that officials recognize blockchain as an industry that can “define the future” and stressed the State Department’s interest in understanding the industry’s challenges in overseas markets, as well as learning more about how new innovation investment can be attracted to the United States. Singh also emphasized the current administration’s efforts to create a fairer and more even playing field for trade around the world:
“The Trump Administration is committed to lowering trade barriers overseas, protecting intellectual property and maintaining our technological edge. The digital economy and greater access to information have fueled economic growth and created more opportunities for American workers.”
Singh pointed to blockchain technology’s potential benefits in the private sector, including healthcare and finance, but also noted that the tech could prove beneficial in the public sphere as well. Census data collection, greater government efficiency, and improved public trust were among the benefits she cited in her remarks.
Confirming that the State Department is monitoring other nations’ approach to the industry, Singh suggested that the U.S. would like to see those countries take a cautious approach to regulation:
“We want to see other countries adopt light-touch and compatible regulations so the private sector has room to innovate and perfect potential new uses for blockchain. As the government, sometimes the best thing we can do to help is stay out of the way.”
Singh closed her remarks by assuring the attendees that U.S. officials want to be a partner in addressing the industry’s challenges. She also issued an invitation for the industry to make their concerns known so that officials can shape policy in a productive way and help “support U.S. industry efforts to succeed in this competitive global environment.”