Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Distributed registry technology
Economy

Blockchain and distributed registry technology can be used by the US Treasury Department

07.01.2021
2 min read

How blockchain and distributed registry technology can help stabilize the economy

Due to the difficult time, the US is looking for various options to support the economy. A bill to allow the use of blockades and DLTs to stabilize the situation is before Congress. A number of MPs have already supported the innovations, believing that distributed register technology will help improve the functioning of the Treasury Department.
The coronavirus pandemic has undermined the stability of the American economy, and unless urgent action is taken, the situation could worsen. Therefore, the authors of the proposal believe that it is necessary to take advantage of modern developments in the field of digital payments.
The use of such technologies as Blockchain and DLT will facilitate a number of processes for the U.S. Treasury, for example, tracking cash flows or deliveries. If we combine the capabilities of the Blockchain and DLT methods, we can improve the efficiency of economic stimulus measures and make the work of the country’s main regulatory body as useful as possible.
The presented draft law has an accompanying letter, where its authors explain why it is worth paying attention to these methods of financial market stabilization. According to specialists, such modern technologies are excellent tools that will speed up money transfer processes several times. In addition, Blockchain and DLT will allow to improve operations on distribution of finance in one or another industry.
An important goal for the U.S. Treasury Department is to help small businesses and citizens of the country, and it is necessary to do this in a short time before the consequences of the pandemic have become even more serious. The government must take care of small businesses that are going through difficult times and of people who were left without jobs and livelihoods during quarantine. In addition, the health sector needs to be modernized and security measures and supervision of all norms to prevent outbreaks of the epidemic should be strengthened. The use of modern technology would also be appropriate in this case.

Distributed registry technology

The use of Blockchain and DLT at the government level will allow the U.S. to maintain a leading position in the global marketplace as countries with advanced technological innovations that help sustain an economy even in such difficult times. With DLT technology, businesses and citizens in need receive timely financial assistance, without additional bureaucratic steps or delays.
It should be noted that the U.S. is not the first country that plans to use innovative solutions for safe money transfer for national purposes. Blockchain and DLT are being applied by the Chinese authorities, and this is already having a positive effect on the economy. An important advantage of these technologies is the security of data transfer, and if you combine them with the experience of artificial intelligence can increase the efficiency of distribution of financial flows.

Tags: Global Economy
0
Previous Post Investor Thomas Price: A business success story Next Post Lithuania announced Eurobonds placement to stabilize economy

You Might Also Like

economic bottom
Economy
Latin America faces an economic bottom: analysts’ forecasts
07.05.2021
Forecast of global economic growth
Economy
Global economic growth forecast by World Bank experts
17.04.2022
global car market-2
Economy
UBS: the global car market is undergoing a transformation
03.02.2024
LNG terminals
Economy
Germany leases LNG terminals to supply the country with gas
15.03.2023
pound has fallen
Economy
Why the pound has fallen in the UK: the consequences of the Brexit procedure
10.08.2020
Japan's economy
Economy
Japan’s economy showed a slowdown in recovery
02.01.2022

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics