California To Establish Blockchain Working Group

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Blockchain Working Group

California State Legislature had approved a blockchain working group bill. According to the public document, bill number 2658 has passed both houses of the state legislature (The state Senate and the General Assembly) and is now on its way to Governor Jerry Brown for approval.

 

The California blockchain bill was first introduced in February 2018. It proposed the appointment of a blockchain working group to study the potential, uses, benefits, and risk of the distributed ledger technology in state government and California-based businesses.

 

The California bill 2658 is initially recognized as a record that is secured through blockchain technology is an electronic record. However, the final version states that the Secretary of the Government Operations Agency is to create a blockchain working group to study the technology instead.

 

The group will consist of 17 members from the technology and non-technology industries, as well as from both the private sector and the government. The Secretary of the Government Operations Agency is to appoint the chairperson of the working blockchain group on or before July 1, 2019. And by July 1, 2020, the group should complete the draft of its report.

The bill stated that the members of the working group will serve without compensation but will receive reimbursement of the expenses incurred in the performance of their duties. As for the report, it should include recommendations for the modifications to the definition of blockchain in Section 11546.8 and recommendations for amendments to other code section that could be affected by the deployment of the distributed ledger technology.

Once the bill is passed, California will be added to the list of the U.S. states with blockchain working groups of their own. The list includes Connecticut which established a similar working group in June 2018 and New York State which proposed a blockchain working group which is to be appointed in the near future.

 


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