WTIA Applauds Signing of Washington State Blockchain Work Group Bill Into Law

WTIA Applauds Signing of Washington State Blockchain Work Group Bill Into Law

Led by Senator Sharon Brown, Work Group to Examine Potential Applications for Blockchain Technology to Benefit State Residents and Businesses Alike

SEATTLE, March 30, 2022/PRNewswire/ – – Washington Technology Industry Association (WTIA), a non-benefit association devoted to encouraging a powerful, value focused innovation area that enables flourishing networks, today reported full help for the marking of the Washington State Blockchain Work Group bill into law.

Championed by WTIA and State Senator Sharon Brown, with solid bipartisan help from the House of Representatives and the Senate, Governor Jay Inslee endorsed into regulation today the Engrossed Substitute Senate Bill 5544 that lays out the Washington blockchain work bunch. This drive will unite blockchain partners to inspect applications for blockchain innovation across a wide scope of regions – including banking and monetary services, computing, land exchanges, medical care, inventory network, advanced education, and openly available report keeping.

The work gathering will help Washington keep on developing as a worldwide pioneer on blockchain innovation. The work gathering will involve a scope of key partner gatherings, including agents from the assembly, monetary foundations, and exchange affiliations. The work gathering will have its debut meeting by December 1, 2022 and present a report to the Governor on its discoveries by December 1, 2023.

“Every day, companies are adopting blockchain technology to improve delivery of services,” said Sharon Brown, R-Kennewick and the supporter of the regulation. “This new law is a vital first-step in creating an environment that is welcoming of new business prospects, eager to seek out new applications, and willing to identify potential supply-chain management and STEM-education opportunities. I am pleased to see this legislation signed into law. By creating the Washington Blockchain Work 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.” 

The Cascadia locale is home to hundreds new companies zeroed in on innovation utilizing the record framework, including application advancement (Atra Blockchain, ArcBlock), blockchain foundation (Dragonchain, NEO and ArcBlock), medical services (Lumedic) and gaming (Mythical Games). Blockchain has likewise extended to the undertaking, with Washington– based heritage organizations embracing the innovation, including Amazon Web Services and Microsoft Azure tapping blockchain as a help, T-Mobile utilizing blockchain for broadcast communications and Starbucks using blockchain to help its store network and logistics.

“Since its founding, the Cascadia Blockchain Council has been dedicated to making the region a global hub for blockchain development. Today represents a major step forward in achieving our goal,” said Arry Yu, Chair, WTIA Cascadia Blockchain Council. “With the formation of the work group, Washington is now positioned to lead the country when it comes to blockchain and distributed ledger technology. It has been a tireless few months of work from the Council and our supporters, and it’s rewarding to see our hard work come to fruition.”

“As a collective voice for the technology community in Washington state, we have seen first hand the power of bringing together the private and public sectors to solve problems and use technology to encourage progress,” said Michael Schutzler, CEO, WTIA. “I’m confident the work group will encourage further collaboration across the industry, laying the groundwork to attract future investment and jobs in the state of Washington.”

For more data on the Cascadia Blockchain Council, visit: https://www.washingtontechnology.org/blockchain/.

About the WTIA Cascadia Blockchain Council
WTIA Cascadia Blockchain Council is helping blockchain organizations from Portland, OR to Seattle, WA to Vancouver, BC arrive at their maximum capacity. The Council fills in as the informed authorities and aggregate voice to more readily advocate for valuable public arrangement and teach key partners, particularly investors.

About WTIA
Washington Technology Industry Association (WTIA) is a consortium that incorporates a not-for-benefit part exchange affiliation, a not-for-benefit tech apprenticeship go-between (Apprenti), and a for benefit organization giving business administrations (HRBI). The association’s central goal is to cultivate a vigorous, value focused innovation area that engages flourishing networks. We enroll innovation organizations and partners that view variety as an upper hand, esteem cooperation as vital for supportable development, and completely embrace the amazing chance to collaborate with and enable the networks in which we operate.

SOURCE Washington Technology Industry Association

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