Legislator’s Toolkit for Blockchain Technology
Blockchain and Distributed Ledger Technologies (DLT) offer immense possibilities for business, government, and consumers. These include the opportunity for extraordinary economic growth and cost efficiencies. U.S. states should encourage the growth of these industries to ensure state economies and consumers can benefit from this opportunity for growth.
Much legislative activity has occurred at the state and federal level inquiring into and supporting the benefits of blockchain technology. This level of interest shows that U.S. policymakers are starting to realize the importance of blockchain technology, the commercial potential it brings, and the need to support its responsible growth. Nevertheless, more needs to be done. Countries around the world are taking this opportunity to pass legislation and develop regulatory frameworks to encourage blockchain companies to relocate to their jurisdictions. The United States needs to foster that interest and energy to ensure that it remains a leader in technological advancement.
This Toolkit is a resource for state legislators as they explore ways in which to encourage these industries to grow and bring economic benefits to states.