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Illinois state assembly opens blockchain subcommittee

Summary

Will study benefits to state government and where regulation should — and should not — apply

Newswire: Jan. 4, 2018.

Dateline: Springfield, Ill.

Illinois’ state legislature will convene a subcommittee to study blockchain technology, its use to state government, and regulation of it.

The committee will be chaired by state Rep. Mike Zalewski (D-23rd, suburban Chicago) and begin hearings in the next few weeks. It will work with the Illinois Department of Innovation and Technology. High on the list of subjects is how blockchain can modernize the state’s aging information technology infrastructure.

“We have centralized old systems in government and we have a chance to transfer their data to newer modern systems that control the information flow and that excites me most,” Zalewski told StatesScoop.com

In terms of regulation, Zalewski said the subcommittee will consider where the state should step in with regulation as much as where it should remain hands off.

“We want to study the issue more and make sure we’re doing the right thing to foster the development of the technology.” Zalewski said.

Read the full story here.

(Front page image via Wikipedia.)

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