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The second smallest state in the United States by the population has formed a working group composed of state agencies with the aim of studying blockchain technology.
This was announced by the attorney general of Vermont, T.J. Donovan, who revealed that the blockchain working group would start working next year in January. The working group, which will seek the input of stakeholders, blockchain associations and other industry experts, will be composed of four state agencies: the Agency of Trade and Community Development, the Secretary of State, the Department of financial regulation and the attorney general's office.
"In a" era of persistent data breaches, security breaches and online activities, exploring new and innovative ways to protect our data is essential, and we must strive to balance economic opportunities with consumer protection ", said Donovan in a statement.
Specific tasks
The responsibilities of the working group will include whether the specific legislation of the blockchain will be necessary. In addition, the working group will be asked to identify the challenges, concerns and opportunities that distributed accounting technology can present for the state of Vermont and to find the best way to protect consumers who might use or be affected by the technology.
Speaking to WCAX-TV, Donovan noted that one of the most likely cases of use for blockchain technology in the state would be to monitor agricultural products for human consumption to ensure safety:
"I think food is great: tracing where food comes from farm to table, regardless of whether we are looking at a potential marijuana industry in this state, to make sure it is safe, that it will have no impact on public health or on the public, so it really gives you confidence, I believe, in tracking down where things went. "
States approve Pro-Blockchain laws
At the beginning of this year, the governor of Vermont, the sixth smallest state in the United States by area, signed a bill that aimed to improve the adoption of accounting technology distributed in the state and allow the development of blockchain startups. The piece of law, which became law on May 30th of this year, also called for a study to determine how blockchain applications could be exploited to the benefit of the Vermont economy.
In August, Vermont Governor Phil Scott also signed a bill that requires a review of how blockchain technology can be used in public records. At the time, Scott observed that legislation that supported the use of distributed ledger technology would benefit taxpayers:
"This new legislation holds the promise of making the government more efficient, economical and ultimately saving Vermonters money," he said.
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