U.S.: Kentucky Finalizes Creation of Blockchain Working Group

The U.S. state of Kentucky has decided to move ahead with a legislative effort that seeks to create a working group focused on blockchain technology. This, according to the Kentucky General Assembly website, April 26, 2020.

Kentucky Greenlights Blockchain Working Group

In the latest regulatory push for distributed ledger technology (DLT), Kentucky’s governor, Andy Beshear, has signed a legislative bill to create a blockchain working group in the state. Per sources close to the matter, Beshear approved the bill on April 24, 2020.

Notably, the bill was introduced in the Senate in January this year and was passed a unanimous mandate in the chamber in late February. Later, Kentucky’s House of Representatives passed the bill with a vote of 87-4 on April 14, 2020.

Regarding the newly formed blockchain working group, the bill reads in part:

The working group shall evaluate the feasibility and efficacy of using blockchain technology to enhance the security of and increase protection for the state’s critical infrastructure, including but not limited to the electric utility grid, natural gas pipelines, drinking water supply and delivery, wastewater, telecommunications, and emergency services.

The workgroup would comprise of a total of nine members that would include three ex-officio members. The members will include representatives from the Commonwealth Office of Technology, the Kentucky Public Service Commission, and the Kentucky Department of Homeland Security, among others.

Further, the bill adds that the blockchain workgroup will report to both, the Governor and the Legislative Research Commission by December 1 of each year. Specifically, the report would comprise the current priority list and a discussion whether DLT could be deployed, and any associated cost-benefit analysis.

U.S. States Actively Embracing Blockchain

Of late, several U.S. states have hinted at embracing the emerging blockchain technology to streamline various governance operations and mechanisms.

As reported by BTCManager on March 7, 2020, a Virginia-based lawmaker had lobbied her commonwealth’s authorities to review how distributed ledger technology (DLT) can help develop the way forward for native elections and commerce.

On a more recent note, the state of Wyoming amended its insurance code to make it possible for insurance firms to invest in blockchain-powered cryptocurrencies including Bitcoin (BTC) and other digital assets.

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