Legislators in the United State House Committee are set to hold a hearing on blockchain technology use in global supply chains next week.
The Subcommittee on Research and Technology and the Subcommittee on Oversight are slated to meet on May 8, According to a notice Published on the Subcommittee on Science, Space, and Technology’s website. The hearing is themed “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods.”
The two Subcommittees will debate both how blockchain technology could improve supply chain management as well as counter counterfeit goods.
Cointelegraph in March reported on some senators who emerged with opinions concerning cryptocurrency and Blockchain following the hearing on digital currency that was held by two commissions; the Commodity Futures Trading Commission (CFTC) and US Securities and Exchange Commission’s (SEC).
Dana Rohrabacher, a Republican representative, currently serving the Research and Technology subcommittee, strongly supported the use of cryptocurrency to empower those people living in Authoritarian governments. However, he called for more KYC and AML regulations in the digital currency industry.
While on the other hand, Carolyn Maloney, the Democratic representative, serving with the Oversight subcommittee, emphasized on robust oversight on digital currencies by the SEC noting that ”nothing is backing these virtual currencies.”
Around the same time, Samsung, the electronics giant confirmed that they could plan on using Blockchain for their existing global supply chain. Just yesterday, Scietist.com, a life science marketplace based in the US, publicized on a Blockchain platform that authenticates the supply chain of research data