Biden White House announces standards for blockchain and other critical technologies

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(Kitco News) – It’s been a busy week for the White House on the blockchain front as the Biden administration’s Tuesday proposal for a 30% tax on cryptocurrency mining was followed by recommendations for international standards around distributed ledger technology (DLT) on Thursday.

“Standards development underpins economic prosperity across the country and strengthens American leadership in the industries of the future at the same time,” the White House wrote. “Strengthening America’s commitment to standards for critical and emerging technology areas will strengthen America’s economic and national security.”

According to the report, titled US Government National Standards Strategy for Critical and Emerging Technology, DLT and data identity infrastructure is one of eight critical and emerging technologies (CET) sectors that will have a significant economic impact in the near future.

The report said DLT, the technology underpinning blockchain, helps transform the current data model as it allows simultaneous access, record validation and record updating through a networked database in a highly secure manner.

This means that any participant on the network can see what other participants are doing on the network at any time, reducing the need for audit data and ensuring data reliability.

The other areas included in the list of CETs are artificial intelligence and machine learning; semiconductors and microelectronics; communication and network technologies; biotechnology; positioning, navigation and timing services; generation and storage of clean energy; and quantum information technology.

The report also highlighted specific applications of CET that will affect national security and the global economy. These include automated and connected infrastructure; biobanking; automated, connected and electrified transport; critical mineral supply chains; cyber security and privacy; and carbon capture, removal, utilization and storage.

“In an era of rapid technological transformation and global scale, standards will continue to define and drive the markets of the future,” the White House wrote. “Standards for CET are of strategic importance. The United States will work with all nations committed to an open and transparent standards system to lead in these new arenas – just as we did with earlier Internet, wireless communications and other digital standards.”

To achieve the goal of helping to create international standards for the eight CET sectors, the White House has developed four goals: investment, participation, workforce and integrity, and inclusion.

On the investment front, the two lines of effort will be to “increase R&D funding to ensure a strong foundation for future standards development,” and “Support the development of standards that address risk, security and resilience.”

To help increase participation, the White House has recommended three lines of action. “Remove and prevent barriers to private sector participation in standards development; Improve communication between the public and private sectors about standards; and Improve US government and like-minded nations’ representation and influence in the governance and management of international standards.”

To bring the US workforce up to date on the latest developments in CET, the Biden administration intends to “invest in educating and training a cadre of professionals who can effectively contribute to and drive the development of technical standards.”

And to achieve the goal of integrity and inclusion, the government will “deepen standards collaboration with allies and partners to support a robust standards governance process,” and “facilitate broad representation in standards development.”

“The changing international dynamics surrounding standardization for CET require the United States to reaffirm and strengthen its private-sector-led approach to standards development rather than abandoning it, as many autocratic nations would like to see,” the White House wrote. “These strategic investments will create new economic opportunities for U.S. industry, protect the integrity of international standards systems, and lead to CET standards that are sustainable and benefit communities both at home and abroad.”