The Governor of Washington Signed a Bill to Accelerate the Adoption of Blockchain in the State

The goal of the initiative is to turn Washington into a global leader in blockchain.

Washington Blockchain Working Group

According to a recent press release, the unit will help Washington become a global leader in cryptocurrencies. The working group will include several participants, including financial institutions, representatives of legislative bodies and trade associations. It will hold its inaugural meeting before December 1, 2022 and submit a report to governor inslee before December 1, 2023.

Senator Sharon brown, the initiator of the law, believes that many companies seek to adopt blockchain technology to “improve service delivery”. In her view, the law is an “important first step” to create a welcoming environment for new business prospects.

“By creating the Washington blockchain working group, we are sending a clear message that Washington is ready to start working with the private sector to advance this technology for the benefit of all Washington residents, employers and workers,” she speculated.

There are many startups focusing on financial technology and blockchain technology in the Cascadia region (the location of Washington state). Arcblock, dragonchain, lumedic and mythical games are some examples.
Arry Yu, a senior executive of WTIA Cascadia blockchain Committee, predicts that the establishment of the above working group will transform Washington state into a global cryptocurrency center. “This is the tireless work of the Council and our supporters over the past few months. It is meaningful to see the results of our hard work,” she said.

Michael schutzler, CEO of the Washington Technology Industry Association (WTIA), believes the initiative will attract future investment and create jobs in Washington state.

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Cryptocurrency Center in the United States

At present, one of the states where cryptocurrency and blockchain technology are booming is Texas. Due to the relatively low electricity price, “Lone Star State” has become the cryptocurrency mining capital of the United States, and many local legislators take a positive position on the industry.

Earlier this month, Peter Sessions , a congressman representing the 17th congressional district of Texas, said bitcoin was “consistent with American values and will strengthen the dollar”. Soon after, the Republican said that BTC mining could rebuild America’s energy independence.

Another Texas politician keen on digital assets is Steve Adler, mayor of Austin. A few weeks ago, he proposed two initiatives to turn the city into a “global leader in cryptocurrency”: “further promote the benefits of blockchain technology and Web3, and adopt bitcoin as a payment method for taxes and fines.