New Jersey Will Soon Have a Blockchain Initiative Task Force of its Own
- The resolution to create such a task force was passed by NJ Governor Phil Murphy.
- The task force will have to submit its findings/recommendations to the state government every 180 days.
In what is being considered a welcome move by crypto enthusiasts all over the world, the Governor of New Jersey (NJ) — Phil Murphy — has just signed a bill that will allow for the creation of a NJ-centric blockchain task force (BTF).
Additionally, as per an announcement made by the NJ state department a few days back, the task force will be responsible for dealing with things related to:
- The risks and rewards associated with blockchain and distributed ledger technology.
- Public and private blockchains networks
- Consensus algorithms
It should also be pointed out that the new BTF will comprise of 14 people — all of whom will be selected by state government officials of varying ranks.
The task force will have to submit a report on its findings to the NJ government every six months. Not only that, they will also have to conduct CBAs (cost benefit analyses) so as to help filter out the best projects that are currently available within this burgeoning domain.
The task force is going to be helmed by New Jersey’s current Chief Technology Officer Chris Rein (who is quite well known for his pro-crypto stance).
In regards to this entire development, Senator James Beach — who was one of the main sponsors of this bill — recently commented that through the use of blockchain solutions, different state governments can bolster their native security protocols in a big way. He also added:
“Blockchain is a technological innovation that will protect us from hackers and those seeking to steal our information […] I believe that whatever the taskforce decides, there is a place for blockchain to be used in local governments to protect them from the ever increasing dangers of the Internet.”