Trump has signed $700 billion for Blockchain Cybersecurity research study

Nishanth Shetty

December 13, 2017 6:30 am

Trump has signed $700 billion for Blockchain Cybersecurity research study | Coindelite News
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Blockchain News

U.S President Donald Trump has approved a military spending bill which is worth $700 and required for a blockchain cybersecurity research study.

The bill can be used for the Department of Defense to investigate the potential offensive and defensive cyber applications of the blockchain technology and other distributed database technologies.

It is a part of wider Modernizing Government Technology Act (MGT), which will be used to concentrate on improving the government’s IT cybersecurity systems.

The Blockchain study, the latest bill described:

“An assessment of efforts by foreign powers, extremist organizations, and criminal networks to utilize such technologies and an assessment of the use or planned use of such technologies by the Federal Government and critical infrastructure networks.”

The result of the study will be delivered to the Congress sometime within the next six months. When it is set to be prepared by the Department of Defense, which has expanded the number of applications in the past. the final product has to add the input from the other federal agencies and departments.

It constitutes a minor element in the major funding law, the measure, which is proposed by Sen. Rob Portman of Ohio, can help the investigation into the possible blockchain utilization within the U.S government.

Trey Hodgkins, senior vice president of public sector at the Information Technology Industry Council Said:

“Blockchain was clearly one of the technological capabilities that Congress meant for agencies to look at, and what they were trying to do was create dollars with some flexibility to them so that agencies would have their own discretion on what they invest in.”