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State Government Blockchain Activities
- 1. State blockchain activities1 9/25/18 Stephen Newell, IBM Legislative bills Purpose Covers Regulatory environment Legal standing for: • blockchain signatures • blockchain transactions • smart contracts Prohibit local governments from: • licensing blockchains • taxing blockchains • inhibiting the use of blockchains Establish crimes for: • forging blockchain transactions • counterfeiting blockchain transactions Operational use Corporate record keeping2 Voting3 Professional regulation4 General record-keeping5 Favorable regulations for fintech Regulations for: • cryptocurrency • fintech blockchains • cryptocurrency mining • crowdfunding • virtual coin offerings Economic development Add a blockchain focus to the economic development agency Start a public awareness campaign Fund state university to guide agencies Studies Form committee or group to report back to legislature6 1 These lists are not exhaustive. They are examples of activities across the U.S. 2 Passed: AZ, DE. Introduced: CA, NJ, NY 3 Introduced: NY. Failed: MA 4 Introduced: VT 5 Passed: CO 6 Passed: IL, VT, CT, MD. Introduced: HI, NJ, NY, VA
- 2. Executive-sponsored activities State Initiative Delaware (2016) Delaware Blockchain Initiative • Create regulatory-friendly environment • Legal infrastructure for corporate shares I blockchain • Named ombudsman • Commit to using blockchain in state agencies Illinois (2016) Illinois Blockchain Initiative • Create regulatory-friendly environment • Invite blockchain business to Illinois • Put blockchain to use in state and local government wherever possible • Five proof-of-concepts (property deed recording, academic credentialing, health provider registry, energy credit market, vital records) Colorado (2018) Council for the Advance of Blockchain Technology • Recommend a legal framework • Recommend guidelines for agencies Arkansas (2018) Blockchain for Arkansas • Governor convened workshop of food supply and agriculture businesses and stakeholders to begin work on an industry-led coalition. Non-profit initiatives (Two examples. There are others) State Initiative Wyoming Wyoming Blockchain Coalition Oregon Oregon Blockchain Venture Studio IBM examples of state agency use State Use Delaware UCC filings LLC stock ledger TBA (To Be Announced) Identity for first responders TBA Identity for citizen access to state portal (discussion) TBA Tracking grant funding (discussion) TBA Review of denied medical claims (discussion)