Bill Overview
Title: To establish a blockchain and cryptocurrency position within the Office of Science and Technology Policy, and for other purposes.
Description: This bill directs the Office of Science and Technology Policy to establish or designate a blockchain and cryptocurrencies advisory specialist position within the office to coordinate federal activities and advise the President on matters of research and development related to blockchain, cryptocurrencies, and distributed ledger technologies.
Sponsors: Rep. Soto, Darren [D-FL-9]
Target Audience
Population: People involved in blockchain and cryptocurrency activities
Estimated Size: 27000000
- The growing field of blockchain and cryptocurrency involves a significant number of people worldwide, including developers, companies, investors, and users.
- Blockchain technology and cryptocurrencies are global phenomena with varying levels of adoption across different countries.
- As of 2023, there are millions of individuals globally involved in cryptocurrency activities, either directly as users or indirectly as developers, investors, and other stakeholders in the industry.
Reasoning
- The policy primarily targets those in the blockchain and cryptocurrency sector that could be influenced by changes in federal policy and coordination. This includes professionals who are already working in the field or who are interested in entering the field.
- Given the budget constraints, the direct impact may be limited to advisory and educational roles rather than direct financial incentives.
- Consideration of a diverse range of roles in the blockchain and cryptocurrency ecosystem will help capture the varied potential impacts of the policy.
Simulated Interviews
Blockchain Developer (San Francisco, CA)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 6/20
Statement of Opinion:
- I believe having a centralized advisory specialist could help streamline regulatory issues.
- This could encourage more consistency and potentially attract more investment.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Cryptocurrency Trader (New York, NY)
Age: 29 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 8/20
Statement of Opinion:
- This policy may increase transparency but I fear overregulation.
- I would feel more secure if there's a unified federal perspective.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 4 | 4 |
Policy Analyst (Washington, D.C.)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- Creating a specialist position is forward-looking.
- We need alignment on tech policy that could spur more research funding.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
College Student (Austin, TX)
Age: 22 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- I see this as a positive step for future job stability in blockchain.
- It indicates the government's interest in supporting this tech area.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
Tech Entrepreneur (Seattle, WA)
Age: 38 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- The policy could help advance tech development standards.
- Execution is key, as missteps could squander government resources.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 10 | 7 |
| Year 10 | 10 | 7 |
| Year 20 | 9 | 6 |
Investor (Chicago, IL)
Age: 50 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- A cohesive policy stance could stabilize the market.
- I am cautiously optimistic about the potential impacts.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Blockchain Architect (Miami, FL)
Age: 31 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- This is a step toward greater institutional acceptance of blockchain.
- I'm hopeful it will address industry challenges and foster growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 5 |
Cryptocurrency Miner (Denver, CO)
Age: 27 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 9/20
Statement of Opinion:
- I'm concerned about potential increased regulation affecting my operations.
- However, a specialist might help clarify rules.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 4 |
Financial Advisor (Boston, MA)
Age: 40 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 7.0 years
Commonness: 5/20
Statement of Opinion:
- How the policy is implemented will determine its market impact.
- Education and clear communication from the government would be helpful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 5 |
Remote Worker (Rural Kentucky)
Age: 36 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 0.0 years
Commonness: 12/20
Statement of Opinion:
- This policy may not impact me directly as I'm not deeply engaged in the sector.
- I hope it doesn't lead to policies that make it harder for small investors.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Cost Estimates
Year 1: $250000 (Low: $200000, High: $300000)
Year 2: $255000 (Low: $205000, High: $310000)
Year 3: $260000 (Low: $210000, High: $320000)
Year 5: $270000 (Low: $220000, High: $340000)
Year 10: $290000 (Low: $250000, High: $370000)
Year 100: $500000 (Low: $400000, High: $600000)
Key Considerations
- Developing an advisory role in blockchain could significantly influence federal policy, potentially affecting the broader U.S. position in a strategically important global technological arena.
- The position will require continuous updates to remain relevant, adaptable, and knowledgeable about the fast-evolving cryptocurrency landscape.