New Jersey Governor Signs Blockchain Development Bill

New Jersey Governor Signs Blockchain Development Bill

On Friday, August 9, New Jersey Governor Phil Murphy signed a law S2297, according to which the state will create a target group to study potential scenarios for using blockchain technology at the state level. According to this bill, they plan to use distributed registry technology for storing medical records, conducting banking operations, carrying real estate auctions, etc.

Recall that this bill was unanimously adopted by the New Jersey Senate in March 2018, but only after almost a year and a half, it was signed by the Governor.

The created working group, consisting of 14 appointed members, has 180 days to submit research to the governor’s office and the state committee on science, technology, and innovation. It is worth noting that over the past two years, the state’s interest in blockchain technology has grown significantly, especially because of cybersecurity threats. For example, the Colorado Department of Transportation (CDOT) was hit by extortion in November 2018. Governor John Hickenlooper called the incident the world’s first cybersecurity emergency due to the defeat of some 400 servers and infrastructure freezing.

We want to remind:

The Law on Cryptocurrencies can be Adopted by the State Duma Within Two Weeks

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