Washington State passes a bill to research advantages of blockchain technology
Washington State has formally passed a bill to establish a working group to study the benefits of blockchain technology across a range of industries.
Washington aims to expand local blockchain adoption
As a result of the law, Governor Inslee established the Washington Blockchain Working Group, which will explore various potential applications for blockchain technology. The working group includes seven government officials and eight leaders from various trade associations across the state. It will study practical applications of blockchain technology and submit a report to Governor Inslee by December 1, 2023.The bill was sponsored by ten state senators, including Senators Sharon Brown, Perry Dozier, David Frockt, Robert Hasegawa, and Mark Mullet. Republican Senator Sharon Brown, who proposed the bill in the first place, said in a statement that Washington state is demonstrating its readiness to embrace blockchain technology "for the benefit of all Washington residents, employers, and workers."
The bill has a long history
Despite overwhelming bipartisan support, the bill's journey has not been easy. The bill was introduced in the Senate in 2019, but the governor vetoed it in April 2020. The bill was then fine-tuned for nearly two years by state lawmakers.Washington is the most recent state to turn to blockchain technology, or cryptocurrency in general, joining New York, Texas, and Wyoming, and it will be interesting to see what the working group concludes when it submits its findings to the governor by December 1, 2023.
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