You can add Connecticut and Ohio to the list of states passing legislation focused on positioning their respective states favorably to attract businesses developing blockchain-based applications.

On June 6, 2018, Connecticut Governor Dan Malloy signed Senate Bill 443, Special Act 18-8 which commissions the establishment of a blockchain working group. The working group is tasked with developing a “master plan for fostering the expansion of the blockchain industry in Connecticut” and “recommending policies and state investments to make Connecticut a world leader in blockchain technology.” The working group’s findings and recommendations are scheduled to be submitted by January 1, 2019.

The Ohio legislature passed Senate Bill 220 on June 27, 2018, which in part, confirms that transactions recorded by blockchain technology are enforceable. All that is needed is Governor John Kasich’s signature to make it happen. An amendment to S.B. 220 included the blockchain language. It reads:

“A record or contract that is secured through blockchain technology is considered to be an electronic form and to be an electronic record.”

“A signature that is secured through blockchain technology is considered to be an electronic form and to be an electronic signature.”

The 2018 Legislative session has seen a number of states introducing, and some states passing, blockchain legislation.  The National Conference of State Legislatures provides a detailed comprehensive list of blockchain legislation which gets updated regularly. Stay tuned as I’m sure more states will embrace blockchain technology.