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Wednesday, March 1, 2017

Legislators: “Bitcoin has Broad Benefits for Hawaii”

Legislators: “Bitcoin has Broad Benefits for Hawaii”

Slowly but surely many state governments throughout the U.S. are studying and trying to define Bitcoin and its underlying technology. Just recently, two legislators from Hawaii sponsored House Bill 1481, which aims to begin the research of cryptocurrencies and blockchain technology. The bill states that the legislature has recognized “vast potential for this technology to drastically change and improve public sector operations and private industry capabilities.”

The Hawaiian representatives are planning to create a digital currency and blockchain working group. The think tank will establish a group consisting of both the public and private sector “to examine, educate, and promote best practices for enabling blockchain technology to benefit local industries, residents, and the State of Hawaii.” The legislators believe the group can best assess practices regarding blockchain technology.

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