Blockchain task force to govern New Jersey crypto space

New Jersey blockchain task force

The state of New Jersey seems to be in pitch-perfect shape when it comes to recognizing and acting on regulating, developing and adopting the Blockchain technology.

Just last week they managed to file a cease and desist letter against two companies trying to hold illegal ICOs, but in no way shape or form did they send mixed vibes through this action.

Now, however, Phil Murphy, the governor of New Jersey has just passed a bill that facilitates the introduction of a “Blockchain Task Force”.

This task force will be “tasked” to gather information about the potential implementation of the blockchain in New Jersey’s recordkeeping and government database issues in the future.

The task force will be given exactly 180 days after their first meeting to come up with relevant cases for blockchain adoption as well as their costs for the local authorities.

Multiple senators also commented that the development of the blockchain provides the state’s “competitors” the technological edge, which nobody can truly afford.

Senators mentioned that in order to protect their digitalized information, which has become the new gold-rush, it’s absolutely essential to implement only the best technology possible, and at this moment, blockchain seems to fit that role perfectly.

The task force is in the process of being created, therefore it’s likely that their first meeting will be held sometime this Autumn, therefore guaranteeing the introduction of the blockchain to the state of New Jersey in summer 2020.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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