Vermont Considering Blockchain Tech for State Records, Smart Contracts

Vermont has recently taken some legislative steps that could see the state using Bitcoin’s technology for state records, smart contracts and other applications in a drive to become “a leader in the field.”

Legislative moves

On June 3, 2015 Vermont Governor Peter Shumlin signed into law “No. 51. An act relating to promoting economic development. (S.138),” which contained “Sec. A.3. Study and Report; Blockchain Technology.”

This mandates that a report be written by January 15, 2016, which has “… finding(s) and recommendations on the potential opportunities and risks of creating a presumption of validity for electronic facts and records that employ blockchain technology.”

There was also an amendment (not yet signed into law) by Senator Balint which appears to be Vermont’s roadmap if there are favorable findings in the report due early next year. On April 8, Amendment to S.138 added in a third reading “Sec. 47. 9 V.S.A. Chapter 2: Electronic Verification Of Facts And Records: § 11. Blockchain Enabling.” It states in part that:

“Blockchain technology shall be a recognized practice for the verification of a fact or record, and those facts or records established through a valid blockchain technology process shall have a presumption of validity for

Read more ... source: Cointelegraph