Overview
Title
An Act To direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes.
ELI5 AI
H. R. 6572 is a bill that wants to help America be the best at using cool new technology called blockchain; it asks an important person, the Secretary of Commerce, to work on making sure everyone in America knows how to use and make the best of this technology. The bill also wants this person to tell the President and the people in Congress how well it's going and what problems they might face.
Summary AI
H. R. 6572, titled the "Deploying American Blockchains Act of 2023," requires the Secretary of Commerce to promote the United States' competitiveness in blockchain technology and other distributed ledger technologies. The bill outlines the Secretary's role in advising the President, supporting national leadership, security, and engagement with public and private sectors regarding blockchain technologies. It also establishes a Blockchain Deployment Program and requires regular reports to Congress about the progress and challenges related to these technologies. The program is set to end seven years after the Act's enactment.
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AnalysisAI
General Summary of the Bill
The "Deploying American Blockchains Act of 2023," represented in the bill H.R. 6572, aims to boost the competitiveness of the United States in the realm of blockchain technology and other distributed ledger technologies. It designates the Secretary of Commerce as the primary advisor to the President on related policies and mandates that the Secretary take actions to support the leadership of the U.S. in this technological domain. This includes developing policies, supporting national security, and promoting public engagement. The bill also calls for the establishment of advisory committees to support the adoption and deployment of blockchain technologies.
Summary of Significant Issues
One significant issue is the broad powers and responsibilities granted to the Secretary of Commerce, which, without clear limitations, could lead to potential overreach. Additionally, the definitions provided for critical terms might not accommodate future technological developments, leading to ambiguity.
The bill lacks specificity on certain points. For instance, defining the term 'covered nongovernmental representatives' depends on other legislation, which might confuse readers unfamiliar with that law. Similarly, there is potential for inconsistency due to the absence of clearly specified standards for developing terminology related to blockchain in the bill. The section outlining reporting to Congress does not specify any budgetary limitations, which could lead to unchecked spending.
Potential Impact on the Public
For the general public, if effectively implemented, the bill could enhance the integration of blockchain technology in various sectors, potentially leading to more advanced and secure digital systems and services. Over time, this could translate into benefits like improved identity verification, more robust cybersecurity measures, and increased supply chain transparency. However, the potential for increased government oversight might raise privacy and data handling concerns among citizens.
Impact on Specific Stakeholders
Specific stakeholders such as blockchain technology developers, application developers, and tech companies may find opportunities for growth and partnership under the initiatives outlined in the bill. The establishment of advisory committees could offer these groups a platform to influence national policies and technological direction. However, the openness of certain provisions could also lead to favoritism if not carefully managed, potentially disadvantaging smaller companies or new entrants in the technology sector.
Moreover, while the bill intends to support both public and private sectors, the broad scope might favor more prominent players with more resources to fulfill the undefined criteria that might emerge from the policies formulated under this Act. Therefore, without clear guidelines, small businesses and non-traditional stakeholders might struggle to adapt or compete effectively. This could also affect artists, rural stakeholders, and other groups who could benefit from specific provisions tailored to their unique needs within the blockchain ecosystem.
Overall, while the bill sets a framework for advancing blockchain technology in the U.S., its broad scope and lack of specific guidance could lead to challenges in equitable and effective implementation.
Issues
The role and powers of the Secretary as outlined in Section 3 are broad and could potentially lead to overreach. Clearer limitations or specifications on actions the Secretary can take would help define the scope of their responsibilities and prevent overextension of authority.
The definition of 'blockchain technology or other distributed ledger technology' in Section 2 might not account for future developments in technology, leading to ambiguity if new types of distributed ledgers are created beyond current implementations.
The term 'covered nongovernmental representatives' in Section 2 refers to a different piece of legislation, which could be confusing for readers unfamiliar with that legislation and lead to misinterpretation of who is included without additional context.
The lack of specification of which standards organizations or frameworks should be referenced in Section 3(d)(4) when 'developing standardized terminology' could lead to inconsistencies and confusion across different sectors and stakeholders.
The termination clause for the Blockchain Deployment Program in Section 3(g) does not specify an evaluation or review process for effectiveness before termination, potentially ending the program without a clear understanding of its impact or success.
Recommendations for 'additional legislation to strengthen the competitiveness of the United States' in Section 4 are open-ended and lack specific guidelines or criteria, which may result in suggestions that favor certain groups or do not align with broader national interests.
The section on 'Report to Congress' (Section 4) does not specify budgetary or financial limitations for the Secretary's report preparation, which could potentially lead to unchecked spending and resource allocation not being tied to specific measurable outcomes.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The section states that the official short title of this legislation is the “Deploying American Blockchains Act of 2023”.
2. Definitions Read Opens in new tab
Summary AI
The section provides definitions for terms used in the Act, including "blockchain technology," which is a secure and shared digital database; "covered nongovernmental representatives," who are certain representatives involved in trade discussions but not from governments; "Secretary," referring to the Secretary of Commerce; "State," which includes U.S. states, territories, and Indian Tribes; and "token" and "tokenization," which relate to digital items created and recorded through blockchain.
3. Department of Commerce leadership on blockchain Read Opens in new tab
Summary AI
The section outlines the role of the Secretary of Commerce in advising the President and supporting the U.S. leadership in blockchain technology. It details activities like developing policies, promoting U.S. leadership, and establishing advisory committees, while emphasizing collaboration with various stakeholders and maintaining security.
4. Report to Congress Read Opens in new tab
Summary AI
The Secretary is required to publicly share on the Department of Commerce's website and submit to certain Congressional committees a yearly report that details their activities under this Act, offers any suggestions for new laws to enhance U.S. competitiveness in blockchain and related technologies, and discusses any emerging risks and trends in these fields.