The State of Colorado has passed a legislation that promotes the use of blockchain technology in order to improve the state government’s operations and cybersecurity. The bill’s title is Cyber Coding Cryptology For State Records, and has been approved on May the 7th.
Colorado Implements Blockchain Technology
One of the different aspects of blockchain technology is that it allows enterprises and governments to easily store information. That reduces bureaucratic papers and processes, but most important, it reduces the chances of information being stolen.
Colorado Senator Ken Lambert, said about the bill:
“Blockchain technology has an ‘if you build it, they will come’ appeal and I believe this bill will help to attract whole new industries to the domain and to Colorado. We see significant benefit for organizations and industries that adopt blockchain technology. It will be instrumental in further elevating the state’s robust technology industry, and empowering new startups and innovators.”
The governor’s office of information technology (OIT), the department of state, and the department of regulatory agencies will have to consider using encryption and distributed ledger technology, according to the Senate Bill (SB) 18-086. Earlier this year we talked about the California Senate bill that is worthy to read up on too.
The main purpose is to protect confidential records from criminals, unauthorized individuals, and manipulation. The departments will have to assess the data systems of each agency to calculate benefits and costs of using blockchain technology. Additionally, the Senate Bill encourages other institutions to analyze the possibilities of adopting distributed ledger technology.
“Colorado is an entrepreneurial state and this bill recognizes the vast opportunity of blockchain technology,” commented Colorado Senator Williams. “It will ultimately shape a better future for Colorado’s students, entrepreneurs, and government alike.”
Just another day in the blockchain era where more and more adoption and acceptance happens. What's your take on this story? It seems there will be a massive domino effect of all these individual State bills, rules and laws being formulated and sent in for inspection and ultimately validation that blockchain will be a big deal in our future lives.