,,ii #aaith ,,congress #ast ,session ,s4 #adib ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,april #aj1 #bjbe,mr4 ,moreno 7for himself1 ,ms4 ,blunt ,rochester1 and ,mr4 ,sheehy7 introduced the following bill2 which was read twice and referred to the ,committee on ,commerce1 ,science1 and ,transportation ,a ,,bill ,to require the ,secretary of ,commerce support the leadership of the ,united ,states with respect to the deployment1 use1 application1 and competitiveness of blockchain technology1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,deploying ,american ,blockchains ,act of #bjbe4 #b4 ,definitions ,in this ,act3 7#a7 ,advisory committee ,the term ,advisory ,committee means the ,national ,blockchain ,deployment ,advisory ,committee established pursuant to section #fjc7;c74 7#b7 ,blockchain technology or other distributed ledger technology ,the term blockchain technology or other distributed ledger technology means a distributed digital database where data is-- 7,a7 shared across a network of computers to create a ledger of verified information among network participants2 7,b7 linked using cryptography to maintain the integrity of the ledger and to execute other functions2 and 7,c7 distributed among network participants in an automated fashion to concurrently update network participants on the state of the ledger and other functions4 7#c7 ,covered nongovernmental representative ,the term covered nongovernmental representative means a representative as specified in the second sentence of section #ace7;b77#a7 of the ,trade ,act of #aigd 7#ai ,u4,s4,c4 #baee7;b77#a771 except that such term does not include a representative of a non-,federal government4 7#d7 ,secretary ,the term ,secretary means the ,secretary of ,commerce4 7#e7 ,state ,the term ,state means each of the several ,states1 the ,district of ,columbia1 each commonwealth1 territory1 or possession of the ,united ,states1 and each federally recognized ,indian ,tribe4 7#f7 ,token ,the term token means a transferable1 digital representation of information recorded on blockchain technology or other distributed ledger technology4 7#g7 ,tokenization ,the term tokenization means the process of creating a token4 #c4 ,department of commerce leadership on blockchain 7a7 ,function of ,secretary ,the ,secretary shall serve as a principal advisor to the ,president for policy pertaining to the deployment1 use1 application1 and competitiveness of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization4 7b7 ,activities ,the ,secretary shall support the leadership of the ,united ,states with respect to the deployment1 use1 application1 and competitiveness of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization by organizing the ,advisory ,committee-- 7#a7 to examine and to provide recommendations on issues and risks relating to the deployment1 use1 application1 and competitiveness of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization1 including the issues of decentralized identity1 cybersecurity1 key storage and security systems1 artificial intelligence1 fraud reduction1 regulatory compliance1 e-commerce1 health care applications1 and supply chain resiliency2 7#b7 to support and to promote the improvement and security of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#c7 to help to promote the leadership of the ,united ,states with respect to the deployment1 use1 application1 and competitiveness of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#d7 to promote the national security of the ,united ,states with respect to blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#e7 to support engagement with the public to develop a compendium of proposals for practices as part of the work described in subsection 7d72 7#f7 to consider policies to encourage coordination among ,federal agencies with respect to the deployment of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#g7 to examine-- 7,a7 how ,federal agencies can benefit from utilizing blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7,b7 the current use by ,federal agencies of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7,c7 the current and future preparedness and ability of ,federal agencies to adopt blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 and 7,d7 additional security measures ,federal agencies may need to take-- 7i7 to securely use blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization1 including to support the security of critical infrastructure2 and 7ii7 to enhance the resiliency of ,federal systems against cyber threats to blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 and 7#h7 to support coordination of the activities of the ,federal ,government relating to the security of blockchain technology and other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization4 7c7 ,establishment of national blockchain deployment advisory committee 7#a7 ,establishment 7,a7 ,in general ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary shall1 in consultation with the heads of relevant ,federal agencies1 establish an advisory committee to support the adoption of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization4 7,b7 ,designation ,the advisory committee established pursuant to subparagraph 7,a7 shall be known as the ,national ,blockchain ,deployment ,advisory ,committee4 7#b7 ,membership composition ,the ,advisory ,committee shall consist of members appointed by the ,secretary1 which shall include-- 7,a7 the ,secretary2 7,b7 representatives of ,federal agencies 7as determined necessary by the ,secretary72 and 7,c7 covered nongovernmental representatives with expertise related to blockchain technology or other distributed ledger technology 7as determined necessary by the ,secretary71 which may include-- 7i7 blockchain technology or other distributed ledger technology infrastructure operators1 suppliers1 service providers1 and vendors2 7ii7 application developers building on blockchain technology or other distributed ledger technology2 7iii7 developers and organizations supporting the advancement and deployment of public blockchain technology or other distributed ledger technology2 7iv7 subject matter experts representing industrial sectors that can benefit from blockchain technology or other distributed ledger technology2 7v7 small1 medium1 and large businesses2 7vi7 think tanks and academia2 7vii7 nonprofit organizations and consumer groups2 7viii7 cybersecurity experts2 7ix7 rural stakeholders2 7x7 covered nongovernmental representatives2 and 7xi7 artists and the content creator community4 7#c7 ,termination of advisory committee ,the ,advisory ,committee shall terminate on the date that is #g years after the date of the enactment of this ,act4 7d7 ,best practices ,the ,secretary shall1 on an ongoing basis1 facilitate and support the development of a compendium of identified or recommended guidelines or best practices for the deployment of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization that-- 7#a7 support the deployment of technologies needed to advance the capabilities of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#b7 support the interoperability of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#c7 support operations1 including hashing and key storage and security systems1 that form the foundation of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#d7 reduce cybersecurity risks that may compromise blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 and 7#e7 quantify the value and potential cost savings associated with adoption of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization1 including through comparative analyses of competing and existing technologies within specific industry applications4 7e7 ,additional requirements ,in carrying out this section1 the ,secretary shall-- 7#a7 consult closely and regularly with stakeholders1 including private sector individuals and entities1 and incorporate industry expertise2 7#b7 collaborate with private sector stakeholders to identify prioritized1 flexible1 repeatable1 performance-based1 and cost-effective approaches to the deployment of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#c7 make public research and information pertaining to the use of1 and marketplace for1 blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#d7 develop standardized terminology for1 and promote common understanding of1 blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#e7 align the recommendations of the compendium described in subsection 7d7 with the goal of facilitating the ease of use of blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 7#f7 support open-source infrastructure1 data management1 and authentication activities with respect to blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 and 7#g7 consider the needs and interests of both the private and public sector1 including small businesses and ,federal1 ,state1 and local governments4 7f7 ,rules of construction ,nothing in this section may be construed-- 7#a7 to require a private entity to share information with the ,secretary2 7#b7 to require a private entity to request assistance from the ,secretary2 7#c7 to require a private entity to implement any measure or recommendation suggested by the ,secretary in response to a request by the private entity2 or 7#d7 to require the adoption of the best practices described in subsection 7d74 7g7 ,consultation ,in implementing this section1 the ,secretary may1 as appropriate1 consult with the heads of relevant ,federal agencies4 #d4 ,reports to ,congress 7a7 ,interim reports ,not later than #b years after the date of the enactment of this ,act1 and annually thereafter1 the ,secretary shall make public on the website of the ,department of ,commerce and submit to the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate and the ,committee on ,energy and ,commerce of the ,house of ,representatives a report that includes-- 7#a7 a description of the activities of the ,secretary under this title during the preceding year2 7#b7 any recommendations by the ,secretary for additional legislation to strengthen the competitiveness of the ,united ,states with respect to blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization2 and 7#c7 a description of any emerging risks and long-term trends with respect to blockchain technology or other distributed ledger technology1 applications built on blockchain technology or other distributed ledger technology1 tokens1 and tokenization4 7b7 ,final report ,not later than #ah months before the termination of the ,advisory ,committee pursuant to section #fjc7;c77#c71 the ,secretary shall make available to the public on the website of the ,department of ,commerce and submit to the ,president1 the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate1 and the ,committee on ,energy and ,commerce of the ,house of ,representatives a final report containing the findings1 conclusions1 and recommendations of the ,advisory ,committee4