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The United States Senate of Illinois Proposes Unfeasible Plan to Blockchain Community

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On February 20, the United States Senate of Illinois recently proposed a Digital Property Protection and Enforcement Act, which was ridiculed by the encryption…

The United States Senate of Illinois Proposes Unfeasible Plan to Blockchain Community

On February 20, the United States Senate of Illinois recently proposed a Digital Property Protection and Enforcement Act, which was ridiculed by the encryption community because of its “infeasible” plan. The bill forced blockchain miners and verifiers to do “impossible things” – such as canceling transactions under the order of the state court. The bill stipulates that any blockchain miner and verifier who fails to comply with the court order may be fined $5000 to $10000 per day.

The US state of Illinois proposed a bill to allow the mandatory change of blockchain records, which was ridiculed by the encryption community

Interpretation of the news:


The Digital Property Protection and Enforcement Act recently introduced by the United States Senate of Illinois has been ridiculed by the encryption community, largely due to its unfeasible plan. The proposed bill forces blockchain miners and verifiers to perform “impossible” tasks, such as cancelling transactions under the order of the state court. The bill then enforces this provision, with fines of $5,000 to $10,000 per day for any party that does not comply.

The bill’s primary aim is to regulate and monitor the blockchain network by providing the authority to the state court. However, the encryption community argues that this act would damage the foundations of blockchain technology. Blockchain transactions are known for their security, transparency, and immutability; they are maintained by consensus and decentralization. The proposed law would disrupt these principles and potentially cause a technological failure that limits the blockchain’s use.

Canceling confirmed transactions on the blockchain would be akin to reversing a historical event, which is impossible. The blockchain network’s nature is designed to resist any centralized control or interference. Therefore, any regulation that demands miners and verifiers to carry out any actions that are beyond their technical capabilities would result in network destabilization.

Moreover, imposing high fines for non-compliance only adds to the blockchain community’s discontent. Regulatory authorities must know that the decentralized blockchain network structure they are attempting to regulate fails to align with the conventional centralized control model. Any legislation that lowers the level of decentralized authority on blockchain networks will be met with resistance.

In conclusion, the Digital Property Protection and Enforcement Act suggested by the United States Senate of Illinois goes against the blockchain community’s core principles. It could disrupt the blockchain network by demanding impossible obligations from miners and verifiers, forcing them to undertake centralize control over the networks. Imposing significant fines for non-compliance only adds to the already growing resistance. Introducing regulation to blockchain networks must be done with consideration, and without compromising blockchain technology’s foundations.

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