The US state of Washington has passed a bill that seeks to expand the state adoption of blockchain technology across financial and industrial sectors into law.
Source: Senate Bill 5544
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The state governor, Jay Inslee, has directed the creation of the Washington Blockchain Work Group to examine the possible applications of the technology.
The Work Group will have seven government officials and eight leaders of the state’s trade association. The report is expected to reach the governor’s office by December 1 next year.
Senator Sharon Brown, who originated the initial draft, notes that the law will be an opportunity for companies seeking opportunities in Supply chain management and STEM education.
The bill was initially forwarded to the Senate in 2019 before being vetoed by the governor in April 2020. The state legislators have since been working on it for almost two years.
Washington now joins other states like New York, Wyoming, and Texas, which have moved to adopt blockchain technology and cryptocurrencies.