New Jersey Legislators Vote Unanimously in Favor of Blockchain Bill

A bill looking to study the integration of blockchain technology into the recordkeeping and service delivery processes of the state, county, and municipal governments of New Jersey has been approved unanimously. The legislation has now been passed to the Governor’s desk, according to a press release on May 23, 2019.

Vainieri-Zwicker Bill Gets the Greenlight

According to an Insider NJ press release, a bill sponsored by two United States National Assembly Democrats, Valerie Vainieri Huttle and Andrew Zwicker (D-Hunterdon, Mercer, Middlesex, Somerset), has been approved 75-0-0 by the entire Assembly.

Specifically, the bill A-3613 aims to study whether a transition to a distributed ledger technology (DLT) based system for recordkeeping and service delivery would be beneficial to the state, county, and municipal governments of New Jersey.

The bill will also see the creation of the “New Jersey Blockchain Initiative Task Force,” that would be responsible for conducting the necessary research, among other duties.

Reportedly, the New Jersey Blockchain Initiative Task Force would be made up of 16 members of the state government including two people appointed by the Governor, two members appointed by the Senate President, two members chosen by the Speaker of the General Assembly, one member appointed by the Minority leader of the Assembly and one person appointed by the Senate Minority Leader.

The blockchain task force would also be comprised of the New Jersey Chief Technology Officer, the Chief Innovation Officer, the Commissioner of Banking and Insurance, the Clerk of Monmouth County, and the Mayor of Newark amongst others.

Commenting on the matter, Zwicker noted that the task force would streamline the process of exploring and integrating DLT into the operations of the state and ultimately enable the government to serve citizens better.

He said:

“Blockchain technology is on the leading edge of both cybersecurity and efficiency. The task force will enable us to explore and apply new tech that will significantly improve how our state and local governments work and thus better serve the people of New Jersey.”

Importantly, the bill requires the task force to draft a report to the governor and the legislature, while also presenting the result of its research to the General Assembly Science, Innovation and Technology Committee and other principal offices within 180 days after its initial meeting.

The report will contain essential details such as the cost implications, the benefits of blockchain adoption by the state and local government agencies, draft regulations needed for the implementation of DLT if necessary, and other relevant information.

In related news, earlier in January 2019, BTCManager informed that the Washington State Senate had introduced the bill SB5638, which recognizes the validity of blockchain technology.


💰 YEN · YouTube ·️ YEN.CAMP 🧠