US Lawmakers to Hear Case for Blockchain Supply Chain

Lawmakers in the U.S. Congress are set to hold a hearing on blockchain tech's use in global supply chains next week.

Two subcommittees of the U.S. House Committee on Science, Space and Technology - for Research and Technology, and Oversight – will meet on May 8, a newly published notice reveals. The hearing is entitled "Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods."

Members of those subcommittees last held a hearing on the tech in February, when they examined possible "emerging uses" for blockchain. As CoinDesk reported at the time, the session served primarily as an informational session for U.S. lawmakers, a number of whom sought to learn more about blockchain. A representative for the SS&T Committee said at the time that members wanted insight on the "basics" of the tech and that "any potential future committee action on the subject will be informed by the hearing."

Next week's hearing is the first to hone in on a specific use case – supply chain management – that has garnered interest from a number of major corporates around the world.

Indeed, major businesses such as Samsung and Alibaba have considered or launched pilot projects around the tech's use for tracking the global shipment of goods. Late last month, for example, Alibaba accelerated a previously revealed test project focused on combatting food fraud.

Around the same time, tech giant IBM unveiled an initiative will several notable firms from the jewelry industry focused on improving transparency in supply chains for the precious stones market.

Capitol Hill image via Shutterstock