IBM Vice President Calls on Government to Get Involved in Blockchain

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Jerry Cuomo, IBM Vice President, Blockchain Technologies is calling for the US Government to get more involved in the Blockchain movement in a recent blog post titled, “Blockchain: Securing the Financial Systems of the Future“.

Noting that IBM helped the United States government create the Social Security system, which, at the time, was the most complex financial system ever developed.

At IBM, we believe that blockchain technology is becoming an essential tool as business and society navigate this shift–with the potential for transforming commerce and the interactions between governments and individuals. Blockchain has inherent qualities that provide trust and security, but, to fulfill its promise, the core technology must be further developed using an open source governance model to make it deployable on a grand scale.

There’s a critical role for government here—both to enhance national competitiveness and national security. The federal government must invest in scientific research to accelerate progress. The National Institute of Standards and Technology can help shape standards for interoperability, privacy and security. And government agencies can become early adopters of blockchain applications. In addition, government has a key role to play in certifying the identities of participants in blockchain-based systems.

He does add that government should not try to control these new financial systems, but they do have an important role to play in helping them to take off and in safeguarding them.

We need to create a new social compact, where business, with input from government, architects the future of financial services. We at IBM look forward to working with our partners in government, industry and academia to get this done.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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