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Laxman Pai, Opalesque Asia: The California state legislature has passed a bill aiming to establish a blockchain working group to develop recommendations on the deployment of blockchain technology.
According to an official release from the California Legislative Information desk, the legislature has finalized the bill directing the state to examine blockchain technology and how to update existing law to account for it.
"Named California bill AB 2658, first introduced in February 2018, calls for the establishment of a working group on blockchain technology, has passed both houses of the state legislature and will now head to the governor for approval," according the public documents.
The bill would define blockchain as a mathematically secured, chronological, and decentralized ledger or database. This definition is temporary and will expire by January 2022.
The bill will require the Secretary of the Government Operations Agency to form a blockchain working group on or before July 1, 2019.
The working group will include members from within the technology industry, as well as representatives from related fields. Stakeholders will be able to provide input to the group, which will then be responsible for recommending changes for the state legislature.
The released document show that both the state Senate and the General Assembly have passed the bill after third readings as of Monday, meaning it should now go to Governor Jerry Brown, who has 30 days ...................... To view our full article Click here
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