Colorado Becomes the First US State to Pass Legislation Around the Use of Blockchain Technology

Colorado Becomes the First US State to Pass Legislation Around the Use of Blockchain Technology

Colorado has become the first US state to pass a legislation that not only promotes blockchain technology but also other distributed ledger technologies for various purposes.

The state government looks forward to using these technologies to improve its operations and cybersecurity.

The news was released by Filament, a provider of hardware and software solutions for IoT and the enterprise. The Senate Bill 86 that has made Colorado the first US state to enact laws around the use of blockchain, was supported by Filament. The blockchain solutions provider worked with senators and representatives to receive bipartisan approval for the legislation.

Senator Kent Lambert said that the state government sees many benefits for organizations and industries that adopt blockchain technology. He added that the legislation would empower innovators and entrepreneurs, and further elevate Colorado’s already robust technology.

The bill affirms that blockchain technology is transforming almost every industry there is, ranging from finance to healthcare. It is rapidly evolving and provides unique solutions to raise standards across industries.

Senator Williams said that Colorado is a state full of entrepreneurs and the legislation recognizes the potential of blockchain technology. He added that this will help shape a better future for the state’s government, students and entrepreneurs alike.

This bill provides businesses to continue their operations in a safe regulatory environment where cities and counties cannot impose unnecessary license requirements, extra fees or unreasonable taxes on the use of blockchain and other distributed ledger technologies. Colorado has now become an attractive place for entrepreneurs and students alike who wish to innovate something.

Allison Clift-Jennings, Chief Executive Officer of Filament, said that Filament has a strong presence in the state and they are devoted to increasing the use of distributed ledger technology in both private and public sectors. Furthermore, by passing this bill the state government has demonstrated that Colorado is ready to give its innovators the space they need to innovate.

The full Senate bill can be read here.

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