As it look for ways to utilize new innovations for its own record keeping applications, the State of Vermont has asked experts to submit a report on the blockchain technology.
The request, signed by the state governor himself, has directed the Secretary of State, the Commissioner of Financial Regulation, and an Attorney General to consult with the delegates of the National Conference of Commissioners on Uniform State Laws and the Center for Legal Innovation at Vermont Law School, while creating a report that elaborately discusses the risks and benefits associated with the blockchain technology.
“They,” the notice read, “together shall submit a report to the General Assembly their finding and recommendations on the potential opportunities and risks of creating a presumption of validity for electronic facts and records that employ blockchain technology and addressing any unresolved regulatory issues.”
This is the second time in Vermont that a state representative has taken an open stand in favor of understanding and adapting the Bitcoin technology. Earlier, Senator Becca Balint had also requested an amendment to use blockchain in state record-keeping