California Finalizes Blockchain Legislature Working Group
California may soon be forming a working group to examine the potential benefits of blockchain to the state – and how best to update laws to make use of the technology.
California bill 2658, first introduced in February 2018, originally recognized “a record that is secured through blockchain technology is an electronic record,” as previously reported. However, the final version as of Monday now directs the Secretary of the Government Operations Agency to create a blockchain working group to study the technology instead.
It also adds that “for the purpose of this chapter, ‘blockchain’ means a mathematically secured, chronological, and decentralized ledger or database,” though this definition is temporary and will expire by January 2022.
The working group, whose chairperson will be designated no later than July 1, 2019, will include members from within the technology industry, as well as representatives from related fields. Stakeholders will be able to provide input to the group, which will…