New White House chief of staff supports blockchain technology

The US President Donald Trump has chosen Mick Mulvaney to serve as his new White House chief of staff in 2019, and he is a firm believer in the technology of blockchain.

As Matt O’Brien of the Washington Post has previously reported, Mulvaney has made no secret of his belief in the technology behind cryptocurrency and blockchain.

In 2016, Mulvaney said that control and regulation over cryptocurrency such as Bitcoin is unlikely because it is “not manipulable by any government.”

According to CNN, Mulvaney also previously helped the Blockchain Caucus draft legislative acts that served to support the advancement of the blockchain industry. Mulvaney stated: “Blockchain technology has the potential to revolutionise the financial services industry, the US economy, and the deliverance of government services, and I am proud to be involved with this initiative.”

Unbiased support from an official soon to be in the White House is unlikely to bear short term implications on current markets. However, it is positive for the space and the potential mass adoption of blockchain and cryptocurrency technology to see there are officials who are in support of the movement – particularly when you consider the recent opposition from the banking industry in previous weeks.

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