A new bill recently submitted to the Hawaii House of Representatives could pave the way for a state-level blockchain working group overseen by the local business development agency.
Partial Hawaii House Bill 622 was introduced into the house by the Democrats and would oblige the Hawaii Technology Development Corporation to form the new blockchain working group.
According to the bill, the working group would focus on creating a legal definition for blockchain, as well as advising on recommendations for the adoption and implementation of blockchain technologies in the state.
The introduction to the bill clarifies the view of the legislature that blockchain technology can be of practical use in a number of public sector functions.
Legislature recognizes that the distributed ledger format that blockchain technology works with can be used to support a range of government and public sector applications including land registry, identity management, supply chain traceability, healthcare, business registration, Taxes, reconciliations, digital currency and payments management, and legal entity management. Such technology requires an informed and thorough approach so that the implementation of blockchain technology in the state does not impede innovation and growth. “
Under the law, the new group would operate through a task force chaired by the chief executive of Hawaii Technology Development Corporation. The task force would, in turn, invite representatives from all relevant sectors to share expertise, including from the technology and academic sectors, as well as consumer groups, nonprofits and other stakeholders.
If the bill is approved, the working group will be set up within 90 days, and the task will be reported back to the state parliament one month before the House is called for the 2022 session. The dissolution of the group itself is scheduled for June 30, 2022 after the deadline for its recommendations.
See also: Keynote speech by US Representative Darren Soto at CoinGeek Live on the subject of “Balance between innovation and regulation for the growth of blockchain technology”
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