- U.S Government Accountability Office (GAO) has laid out four policy options to help policymakers implement blockchain technologies.
- The policy options include standards, oversight, educational materials, and appropriate uses.
- The GAO also acknowledged the potential for blockchain technology to improve a variety of both financial and non-financial applications.
As requested by the United States Congress, the U.S Government Accountability Office (GAO) has laid out four policy options that should help policymakers implement blockchain technology. These policies shall also aid in improving opportunities and restricting the number of challenges of doing so.
GAO also acknowledged the potential for blockchain technology to improve a variety of both financial and non-financial applications, despite the potential to introduce new challenges while attempting to resolve issues native to the traditional financial system, according to their assessment released on the 24th of March.
As per the assessment, “A blockchain might both increase the speed of a title registry system and lower the cost of title insurance by making title registration simpler ...