What started as an early experiment by the state of Illinois to offer insurance services on a blockchain has expanded into a formal state-wide initiative.
Announced today at Blockchain Conference Chicago, the Illinois Blockchain Initiative, a first-of-its-kind consortium comprised not just of companies – but of five government agencies, is a far-reaching measure aimed at not only making it easier for startups to innovate but removing barriers for the government to build with blockchain.
In conversation with CoinDesk, Secretary of the Illinois Department of Financial and Professional Regulation, Bryan Schneider, expanded on his remarks made during the formal announcement today.
“The fact that we’ve got all these agencies willing to come together and share best practices, share ideas, at some point share what they’re hearing, I think is an incredibly powerful engine and shows the degree to which Illinois government is doing its best to break down those barriers.”
In addition to Schneider’s department, founding members of the Illinois Blockchain Initiative are the State Department of Commerce and Economic Opportunity (DCEO), the Department of Insurance (DOI), Cook County’s Recorders of Deeds and the the newly formed Department of Innovation Technology (DoIT).
The moves by the Illinois government to