Washington state Governor Jay Inslee inked a bill into law today, three years and one veto later, that intends to extend the state’s acquiring of blockchain technology across multiple financial and industrial sectors.
Governor Inslee established the Washington Blockchain Work Group, which will “explore various possible applications for blockchain technology.” The Work Group will include seven government officials and eight leaders from various trade organisations from across the state. It will research practical applications of blockchain technology and submit a report to Governor Inslee by December 1, 2023.
This law has had a bumpy ride in the state legislature. It was introduced in the Senate in 2019, but was vetoed by the governor in April of the following year. The state legislature then spent nearly two years fine-tuning it.
Washington is the well known of several U.S. states to adopt blockchain technology or cryptocurrencies in general, including New York, Texas, and Wyoming.
Wyoming has established a reputation as a forward-thinking regulatory refuge for blockchain firms. It is the headquarters of the bank of the cryptocurrency exchange Kraken and has recognized decentralised autonomous authorities (DAO) as legal organisations.
According to CNBC, New York state is one of the most important crypto mining locations in the United States, accounting for 19.9 percent of the country’s total Bitcoin hashrate.
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