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The attorney general of Vermont, T.J. Donovan explained that the state government is planning to launch an agency to study blockchain technology.
The group responsible for the project will first look for information from blockchain associations, stakeholders and industry experts. Four state agencies will also participate, including the Secretary of State, the Department of Financial Regulatory, the Agency of Commerce and the Office of the Attorney General.
Donovan said: "In a" era of persistent data breaches, security breaches and online activities, exploring new and innovative methods to protect our data is essential. "And, we must strive to balance economic opportunities with the protection of consumers ".
The group's goal is to determine the need for specific blockchain legislation by identifying the challenges, concerns and opportunities that technology presents.
According to Donavan, one of the main cases of technology is to track the transportation of agricultural production to ensure that it meets safety standards. He has declared,
"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 it safe, that it will have no impact on public health or public, so it really gives you security, I believe, in tracking down where things went. "
The governor of the state has also signed a bill that promotes the adoption of ledger technology distributed in such a way blockchain startups can have an easier time. The legislation came into force in May 2018. In August, the governor also signed another bill for reviewing the blockchain technology concerning the public.
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