Government Will Be Able To Use Blockchain Solutions, If New Ohio Bill Passes
As governments look for ways to use cryptocurrencies for their own purposes, new legislation is required to make these things possible. In Ohio, the House of Representatives has proposed a new bill, which would allow the state government and related entities to use blockchain as a solution to invoke that power. The bill, House Bill 220, has already received sponsorship from Rick Carfagna, who is a state representative with the Republican Party for the 68th Ohio District.
With the new bill, blockchain operations like logging car titles or hunting licenses could be legitimately and legally done through blockchain operations. Since this paperwork would be recorded on the blockchain, authorized agencies will be able to easily access the content on a secure distributed ledger.
Jon Husted, the Ohio Lieutenant Governor, and Armond Budish, the Cuyahoga County Executive, have both reportedly gotten involved in an event that connects startups and the governments. There was also a panel that unravels exactly how governmental use would be applied in the blockchain.
The State of Ohio has been persistent in trying to establish itself as a major force in the adoption of blockchain technology and cryptocurrency. After all, in November, it became the first state to allow their citizens to process tax payments with the use of Bitcoin. The crypto tax solution was employed by two businesses in the state.
Along with Ohio, Wyoming has also been aggressive in pursuing adoption of the crypto industry, hoping to also become a hub for the industry. Eight other states have already brought in new legislation regarding blockchain technology and cryptocurrency.