The U.S. Senate is set to go away another look at blockchain technology next week.
The Committee on Puissance and Natural Resources will host a hearing on “Energy Efficiency of Blockchain and Equivalent Technologies” on August 21, in an effort to better understand how blockchain technology superiority impact electricity prices and what benefits it can provide, according to a following announcement released Thursday.
“The purpose of the hearing is to consider the energy adeptness of blockchain and similar technologies and the cybersecurity possibilities of such technologies for might industry applications,” the announcement said.
Specifically, it continued, the event resolve ask the question, “should we expect electricity prices to increase from activating electricity demand in blockchain applications?”
The effort also aims to value whether blockchain and similar technologies might soon bring change for the betters in the online security of energy supply computer systems.
The event order be a full committee hearing, meaning, at least theoretically, all 23 associates will be present.
While the announcement included the fact that there disposition be witnesses testifying, it did not detail who they would be.
This is the first every now a Senate committee hearing has explicitly focused on blockchain’s potential capacity and affects within the energy industry. However, past hearings bring into the world covered areas ranging from regulating cryptocurrency startups and sign coin offerings to supply chain use cases.
Capitol Hill double via Shutterstock
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