The White House has released a National Standards Strategy for key and emerging technologies on May 4. Out of the eight significant technologies, the National Strategy has included Distributed Ledger Technology (DLT) and Digital Identity Infrastructure in the list which gained immense attention from the crypto community. Initially proposed by Qualcomm Technologies, the DLT is a technology that provides concurrent access, record validation and record updating throughout a network and is the basis of blockchain technology. It also assures data reliability and restricts access to only those who are authorized to access it.

With the strategy in place, the United States government seeks to increase the leadership in the development of international standards to all emerging technologies including those of DLT and digital identity infrastructure. The private sector organizations have also taken the initiative to promote and build such international standards. The strategy further suggests that DLT, if explored and tested, can be used extensively in the economic sector, to build automated connected infrastructure such as smart communities and IoT, primarily in the parameters of cybersecurity and privacy-related services.

Moreover, it would also establish trust and security in record management, digital payments, digital wallets, for cross-border trade, etc. Although these potential applications require more development, the bottom line is that DLT is playing a significant role in bringing the world to embrace new-age technologies. The National Standards Strategy will help the US stand out in terms of the DLT use among all the countries.



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