Sec. 5. Distributed ledger technology applied research project
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Subject to the availability of appropriations, the Director of the National Institute of Standards and Technology may carry out an applied research project to study and demonstrate the potential benefits and unique capabilities of distributed ledger technologies. In carrying out the applied research project, the Director of the National Institute of Standards and Technology shall— identify potential applications of distributed ledger technologies, including those that could benefit activities at the Department of Commerce or at other Federal agencies, considering applications that could— improve the privacy and interoperability of digital identity and access management solutions; increase the integrity and transparency of supply chains through the secure and limited sharing of relevant supplier information; facilitate increased interoperability across healthcare information systems and consumer control over the movement of their medical data; facilitate broader participation in distributed ledger technologies of populations historically underrepresented in technology, business, and financial sectors; or be of benefit to the public or private sectors, as determined by the Director in consultation with relevant stakeholders; solicit and provide the opportunity for public comment relevant to potential projects; consider, in the selection of a project, whether the project addresses a pressing need not already addressed by another organization or Federal agency; establish plans to mitigate potential risks, including those outlined in section 3(a)(2)(B), if applicable, of potential projects; produce an example solution leveraging distributed ledger technologies for 1 of the applications identified in paragraph (1); hold a competitive process to select private sector partners, if they are engaged, to support the implementation of the example solution; consider hosting the project at the National Cybersecurity Center of Excellence; and ensure that cybersecurity best practices consistent with the Cybersecurity Framework of the National Institute of Standards and Technology are demonstrated in the project.
Not later than 1 year after the date of enactment of this Act, the Director of the National Institute of Standards and Technology shall offer a briefing to the relevant congressional committees on the progress and current findings from the project under this section. Not later than 12 months after the completion of the project under this section, the Director of the National Institute of Standards and Technology shall make public a report on the results and findings from the project.