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Legislation sponsored by Senate Republican leader Tom Kean (R-21) and Senator James Beach (D-6) to set up a task force tasked with exploring the merits of using Blockchain technology to modernize government systems and safeguard personal data has passed the New Jersey State Senate.
"Blockchain is not a myth or a fad, this technology has evolved enormously since the early days of Bitcoin and crypto-currency, the more I learn about Blockchain, the more I realize that this is a great way for government offices to increase 39. efficiency and protect the electronic systems we use every day to help and protect residents throughout the state, "said Senator Kean. "The task force established by our bill will look for effective ways to implement this technology in a way that will benefit our taxpayers."
Blockchain is a type of distributed registry or decentralized database that tracks digital transactions.
Rather than having a central administrator, such as a traditional bank, a government agency or an accountant, monitor a network; a distributed ledger has a network of replicated databases, which are synchronized via the Internet and visible to anyone within the network.
As stated in the S-2297 document, the "NJ Blockchain Initiative Task Force" will investigate whether state or local governments will benefit from a transition to a Blockchain-based system for record keeping and service delivery.
"Blockchain technology already provides advanced information security protections in a variety of industries," said Senator James Beach (D-Burlington / Camden). "Establishing a NJ Blockchain Initiative task force would offer state governments the opportunity to explore how streamlined electronic processes can improve electronic governance services and ensure that data collection is protected against cyber threats."
Under the law, the task force should give a practical look at Blockchain, which gives the government better, safer and more reliable ways to improve the relationships and interactions of New Jersey citizens with the government.
The use of Blockchain technology could also help to safeguard government systems from cyber security attacks. Recently, federal authorities have accused two Iranian men for carrying out the 2017 ransomware attack on the Newark city government, according to a report by NJ Spotlight.
Some advocates of Blockchain technology have stated that "technology is a much safer system because it is based on a complex system, based on cryptography, in which a shared database links or" chains "data together on a large number of peers. it makes it virtually impossible to make changes without being detected ", according to that report.
S-2297 would also require the task force to publish a report of their findings to the Governor and the Legislature.
"Since Thomas Edison invented the light bulb here more than a century ago, New Jersey has been known as a leader in the field of innovation technology." We can support Edison's legacy by utilizing advances to the world. avant-garde, like Blockchain, "said Kean. "New Jersey should be absolutely at the forefront of the movement to use this revolutionary tool in the public sector."
