The United States has long been a global leader in innovation. The birth and growth of new distributed ledger technologies (DLT) is one area in which the strength of American inventiveness and entrepreneurial spirit has spawned a technological sea change. But the United States cannot afford to become complacent as global rivals work to develop their own decentralized technologies. China, in particular, is investing heavily in this space as a means to achieve its own ends.
Continued leadership in DLT innovation demands a cogent, unified policy approach. Fortunately, a new piece of legislation from Sens. Roger Wicker (R-MS) and Cynthia Lummis (R-WY) has the potential to provide just that. The National R&D Strategy for Distributed Ledger Technology Act would direct federal agencies to coordinate and build out a national strategy for public-facing DLT research and development (R&D).
