California passes bill to form blockchain working group
California’s state legislature has passed a bill that calls for the establishment of a working group on blockchain technology.
The bill suggested the working group, to be formed on or before 1 July, 2019, consists of participants from both technology and non-technology industries, including representatives from legal and consumer industries.
For the purpose of its bill, the California state legislature defines blockchain as “a mathematically secured, chronological and decentralized ledger or database”.
The working group’s responsibilities will be to evaluate the following:
- Potential uses of blockchain in state government and California-based businesses
- Risks, including privacy risks associated with the use of blockchain
- Benefits associated with the use of blockchain technology
- Legal implications associated with the technology
- Best practices for enabling distributed technology to benefit state and business
Apart from the industry representatives, the working group will also consist of the state chief information officer, director of finance, chief information officers of three other state agencies, one member of the Senate and one member of the state Assembly.
“The blockchain working group shall take input from a broad range of stakeholders with a diverse range of interests affected by state policies governing emerging technologies, privacy, business, the courts, the legal community, and state government,” the bill declared.
It now moves to the state governor for final approval.