The Washington Technology Industry Association supports the signing of the Washington State Blockchain Work Group Bill into law. On March 31, Governor Jay Inslee signed into regulation today the Engrossed Substitute Senate Bill 5544 after being advocated by WTIA and State Senator Sharon Brown, along with bipartisan help from the House of Representatives and the Senate.
This formation will aim to find out the potential applications for blockchain technology. The Work Group will include seven government authorities and eight heads of several trade associations all across the state. One of its several tasks will be to concentrate on the real-world use of blockchain technology. It will then have to send a report on its findings to the Governor latest by December 1, 2023.
Sharon Brown said, “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.” He further stated that Washington is all set to use blockchain to grow all the residents, employers, and employees.