Blockchain, the electronic ledger technology observed by several states, could see some of the private sector availability in California next year along with some state-level controls, since two bills were focused on the topic at the governor of Jerry Brown for a signature.
The bill of Assembly 2658, created by the body's majority leader, Ian Calderon, D-Whittier, authorized the Assembly on 27 August and is directed to the governor. If Brown signed it by September 30, he would set up a blockchain working group by July 1, 2019, to study the uses, risks, benefits and legal implications of technology for the state government and the private sector, with the contribution of the interested parties. The group would report its results to the state legislature by July 1, 2020.
The group, specified by the Legislature, should include the state CIO or a nominee; the director of the state of finance or a nominee; three other CIOs of state agencies; one member each from the Senate and from the Assembly; and 13 named.
In a statement by the state's most recent senate, Calderon said the state must create an environment that encourages entrepreneurs and innovators to develop around the blockchain if they want to continue to be a "global leader" in the promotion of innovation and new technology. "Calderon said the blockchain has" almost limitless "applications and added:" It is in the interest of California to encourage innovation and investment in blockchain technology. . "
The account, Calderon's office said in an information sheet, defines blockchain technology for the first time", which will provide companies and industry greater certainty about the legal position of technology. " The Bill 2658 Assembly defines blockchain as "a ledger or a chronologically secure, chronological and decentralized database."
Shares that definition with the latest version of Senate Bill 838, which was created by Senator Robert Hertzberg, D-Van Nuys. It is only the Senate's competition, or agreement with the Assembly's revisions, before even going to Brown's desk – but this must happen by midnight on August 31st, the last day of the legislative session.
If it cancels the state, the Senate and Brown sign it, the SB 838 would provide the California companies "to issue and transfer securities on a blockchain", as an alternative to issuing certificates Traditional equities and a stock register, the Hertzberg office stated in a fact sheet. Both banknotes would pass at sunset on January 1, 2022.
His goal in the introduction of SB 838, Hertzberg said Government Technology via e-mail, "is to try to offer a vision and a willingness to take risks in the future- Coping with ideas. "
" My hope with this bill is that California take a first step towards integrating blockchain technology into our daily lives, enabling businesses to use safer technology will increase consumer protection and help prevent frauds.The sunset date for this bill will allow us to study its implementation and make recommendations for the future. ways of incorporating the blockchain into California law, "said the senator.
In an analysis of the 2658 Plan Assembly, officials indicated "the intent that this study of the law and the developed definition of blockchain will inform both this bill and the definitions statutes of the SB 838, if issued. "
In an e-mail answer, Calderon said GT that the two drawings" coexist perfectly ", with SB 838 taking" a modest step to allow the registration of stock certificates on a blockchain "and AB 2658 assigning the working group to study uses" by public and private bodies and [recommend] policies that protect consumers and ensure the growth of this technology in California. "
" These laws share a common goal: to give more certainty to California innovators that their use of blockchain is not only allowed but encouraged, "Calderon said, setting the sunset forecast the possibility of "evaluating the effectiveness of SB 838" and updating the definition of blockchain with the guidance of the working group.
Katie Hanzlik, Hertzberg's press secretary, said the two lawmakers worked together on the problem blockchain and said that SB 838 is somewhat different from a pilot program.
"I think both are trying to achieve the same kind of final place, which is to start making the government know about the idea of using blockchain, but they are going in those two different ways" , said Hanzlik.