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Ohio is advertising itself as a friend for blockchain activities.
Gov. John Kasich approved Friday's legislation allowing new uses for blockchain technology.
Ohio is one of the first states to adopt legislation that recognizes the use of blockchain technology to save and protect electronic records in a range of industries, from financial services to supply chain management, property real estate and medical documentation, JobsOhio stated in an announcement.
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Last year, General Motors and Ford joined BMW and Renault and other companies in creating the Mobility Open Blockchain Initiative to explore how the blockchain could be used in the automotive world.
Blockchain is a digital record in which data can not be edited without the full network's consent.
"In Ohio, blockchain innovators can thrive in their efforts to develop new products and applications for the financial sector and beyond," said Valio Isakina, CEO of JobsOhio's financial services. "Many companies seeking to expand their blockchain and R & D activities are growing rapidly and creating jobs, and Ohio is now even more attractive to these companies."
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The cities of Ohio are trying to open their doors to companies that rely on technology, including Columbus, with its "smart city" initiative and in Cincinnati, with the "10XTS" initiative.
At the beginning of this summer, Ohio legislators passed legislation updating the Ohio law that deals with electronic transactions to include blockchain-based transactions.
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"In order for Ohio to be able to compete for new investments and jobs, we need to welcome innovation, new technology and advanced energy." Embracing blockchain technology is a step forward to achieve these. aims ". State Senator Matt Dolan, who introduced the Ohio bill, said in the release of JobsOhio.
The Ohio Financial Services Industry is the fifth-largest among the states and is the second largest private sector within the state.
With 270,000 employees, Ohio is second only to New York City as home to major US banking and insurance companies, JobsOhio said.
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