Congress, DHS, Industry Weigh Collaborative Security Efforts With Blockchain

The Department of Homeland can identify how blockchain technology could help secure data and enhance national security, Senate Oversight Subcommittee Chairman Ralph Abraham, R-La., said Tuesday during a joint hearing with the Research and Technology Subcommittee (see 1805030028). Counterfeit and pirated goods are projected to account for $4.2 trillion of the global economy by 2022, said Research and Technology Chairwoman Barbara Comstock, R-Va. She said consumers have the right to “feel confident to have found a deal that is a bargain and not a counterfeit product.” DHS Cyber Security Division Director Douglas Maughan called for “strong working relationships with industry” to ensure government “applications of blockchain and distributed ledger technology are effective and trusted.” The U.S. should work with foreign partners to establish an international regulatory framework for blockchain technology to foster innovation and ensure the free flow of goods, said UPS Vice President-Global Customs Brokerage Staff Chris Rubio.