Disruptor Series: Cashing Out Traditional Monies for Digital Currency

Press Release

The Subcommittee on Commerce, Manufacturing, and Trade chaired by Rep. Michael C. Burgess, M.D. (R-TX), today announced a continuation in its Disrupter Series with a hearing to review digital currency and blockchain technology. The hearing is entitled, "Disrupter Series: Digital Currency and Blockchain Technology" and is scheduled for Wednesday, March 16, 2016, at 11 AM in room 2123 of the Rayburn House Office Building. Next week's hearing follows previous discussions of the Internet of Things, sharing economy, drones, mobile payments, 3D printing, and wearable technology.

Digital currency and blockchain applications are technological advances that have the potential to revolutionize all categories of industry and the global economy. This innovation has the potential to fundamentally change how assets are transferred and transactions are recorded. Members will examine issues surrounding existing and future applications for blockchain technology and discuss how it will impact consumers and job growth.

"The very notion of having our assets go from under the mattress to cyberspace is remarkable. This cutting-edge development could transform our 21st century economy for the better -- some even say this technology could be as revolutionary as the invention of railroads, cars, and the Internet," said Burgess. "However, it is critical to fully understand both the benefits and risks this could bring to consumers and businesses. Wednesday's hearing will closely examine what digital currency and the underlying technology means for consumers, job growth, and personal security."

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