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42 U.S. Code § 19222. National research and development strategy for distributed ledger technology
(a) DefinitionsIn this section:
(1) Director
Except as otherwise expressly provided, the term “Director” means the Director of the Office of Science and Technology Policy.
(2) Distributed ledgerThe term “distributed ledger” means a ledger that—
(A)
is shared across a set of distributed nodes, which are devices or processes, that participate in a network and store a complete or partial replica of the ledger;
(B)
is synchronized between the nodes;
(C)
has data appended to it by following the ledger’s specified consensus mechanism;
(D)
may be accessible to anyone (public) or restricted to a subset of participants (private); and
(E)
may require participants to have authorization to perform certain actions (engaging) or require no authorization (permissionless).
(3) Distributed ledger technology
The term “distributed ledger technology” means technology that enables the operation and use of distributed ledgers.
(4) Institution of higher education
The term “institution of higher education” has the meaning given the term in section 1001 of title 20.
(5) Relevant congressional committeesThe term “relevant congressional committees” means—
(A)
the Committee on Commerce, Science, and Transportation of the Senate; and
(B)
the Committee on Science, Space, and Technology of the House of Representatives.
(6) Smart contract
The term “smart contract” means a computer program stored in a distributed ledger system that is executed when certain predefined conditions are satisfied and wherein the outcome of any execution of the program may be recorded on the distributed ledger.
(b) National distributed ledger technology research and development strategy