California Is Forming a Blockchain Working Group

California Is Forming a Blockchain Working Group

California released a bill calling for the creation of a working group on blockchain, which has passed in both Senate and Assembly and is now waiting for the governor’s approval.

The Brightest Minds to Come Together  

The bill, main point of which is to form a group of specialists from different fields to focus on blockchain, defines the technology as “a mathematically secured, chronological, and decentralized ledger or database.” 

The gathering is supposed to consist of members from technology and non-technology areas, ones with a background in legislature, and some – representing privacy and consumer associations. Furthermore, the group ought to include the State Chief Information Officer, the Director of Finance, a participant from the Senate, and one from the Assembly. The official document states that the members will “serve without compensation.” 

By July 1, 2020, the working group is required to present their research “on the potential uses, risks, and benefits of the use of blockchain technology by state government and California-based businesses” to the Legislature. 

Following Connecticut and New York 

California is not the first to form such working group: in June, Connecticut head Dannel Malloy signed a bill establishing such group tasked with developing a plan to accelerate the technology’s adoption in the state. New York state’s task force is expected to prepare a report by December 2019. 

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