Governor Dannel Malloy of Connecticut has signed off on a law that will employ a blockchain working group, in order to further study the technology and how it can be utilized in state legislation.
The new law, SB 443 is a result of a bill which passed through both legislative houses last week tasked with overseeing the expansion of the blockchain industry in the state, according to Cointelegraph.
It’s reported that the governor’s intentions are to make Connecticut “a leader in blockchain technology.” The new group’s remit will be to:
“(1) Identify the economic growth and development opportunities presented by blockchain technology; (2) assess the existing blockchain industry in the state; (3) review workforce needs and academic programs required to build blockchain expertise across all relevant industries; and (4) make legislative recommendations that will help promote innovation and economic growth by reducing barriers to and expediting the expansion of the state’s blockchain industry.”
The group must submit its final recommendations to the standing committees of the General Assembly by January 1, 2019, taking into consideration matters relating to commerce, banking, and finance, as well as revenue and bonding.
US states are increasingly beginning to come on board in order to utilize blockchain tech. The state of Arizona has officially signed into law a bill that allows for corporations to hold and share data on a blockchain. First introduced in February by state representative Jeff Weninger, the bill is intended “to open the door for emerging technologies in Arizona”.
In May, the New York state legislature also presented a bill to create a blockchain task force. If created, the New York task force would prepare a report for the governor, the temporary president of the state senate, and the speaker of the assembly by December 2019. Also, Colorado has passed its own bill which will use blockchain for government record keeping and cybersecurity.
As states line up the new technology, Tennessee signed a bill recently that legally recognizes blockchain technology and smart contracts for electronic transactions. The bill also makes a provision that, “protects ownership rights of certain information secured by blockchain technology.”
Nebraska, Florida, Arizona, Nevada, and Vermont, along with Maine, Hawaii, Illinois, and North Dakota are some of the many US states notably either in the process of presenting bills, enacting legislation or actively utilizing blockchain in state legislation.
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