BRI report asks the US government to prioritize crypto assets

BRI report demands prioritization of crypto assets from the US government
  • The BRI and the Chamber of Digital Commerce recently released a 120-page report
  • The report details how the U.S. government professionals can rediscover its technology scheme and policy
  • It further defines a sequence of five priorities for the current government

As the COVID-19 pandemic is flattening out, the administration of Biden–Harris tenure is already enforcing fresh strategies to recover the loopholes of the U.S. economy. While noteworthy, implementing developing technologies, while ascertaining data privacy, should be the topmost concerning issue for the White House management to cater to.

Don Tapscott’s opinion on the current scenario  

The executive chairman of Blockchain Research Institute, Don Tapscott, stated that the COVID-19 pandemic initiated an era in which the government leaders needed to acknowledge digital realities. He further explained that as per the current times, it is important for government leaders to establish a comprehensive setup for achieving prosperity, social cohesion, just government, and so many more positive attributes. 

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Don believes that the world is witnessing the beginning of the second trial of the digital era. According to him, the latter is a branch of artificial intelligence, the Internet of Things, and technologies like blockchain. Similarly, an innovation push is happening that requires the federal leaders to gain information about how such technologies can be implemented on a government level.

The BRI report and its details 

The BRI and the Chamber of Digital Commerce recently released a 120-page report in a trial to elevate awareness for developing technologies. The report details how the officials of the U.S. government can rediscover its technology scheme and policy. 

The document also highlights how leaders can reduce the limit of unwanted results of unfolding technologies, like data misuse or job losses, as a consequence of AI-powered machines.

The report defines a sequence of five priorities aimed at assisting the Biden–Harris administration to accomplish a long-term digital program. They involve acknowledging cybersecurity to secure identity and privacy; comprehending the matrix of the digital dollar as well as other cryptocurrencies; socializing with citizens and holding officials responsible; and much more.  

While splendid, the report highlights that the former Trump administration managed to achieve only minimal advancement in the field of modernization and digitization. However, Don is very hopeful that the current Biden–Harris administration will play a significant role in utilizing that technology in the best interest of U.S. citizens. 

The report also mentions the need for a central bank digital currency in its series of priorities for the U.S. government to acknowledge and work on. Recently, China became the world’s first significant economy to enforce a CBDC. Besides, the report suggests that China’s foreign exchange partners are all set to move into renminbi as a reserve currency.

The BRI report puts forward various valid arguments. However, the practicality of the digital priorities’ implementation remains questionable under the new Biden–Harris management. Don asserted that he is confident that the BRI report will turn out to be an overall helpful counselor for the regulators.

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Andrew Smithhttp://thecoinrepublic.com
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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