Governor of New Jersey Phil Murphy recently signed bill S2297, which is an act to create a so-dubbed New Jersey Blockchain Initiative Task Force. The purpose of the task force is purportedly to study blockchain solutions for the benefit of the state.
The news that Murphy passed this bill comes by way of an announcement on the official site of the state of New Jersey on Aug. 8. According to the press release, the taskforce will study the risks and rewards related to blockchain and distributed ledger technology; public blockchains, private blockchains and consensus algorithms; current projects and use cases around the world and their potential within the state; and what laws could be changed for secure and paperless recordkeeping.
Task force will compile six-month report
The task force will contain 14 members who are appointed by officials in various positions of government.
The group will have 180 days after it first convenes to report on its findings and will include a cost-benefit analysis of introducing blockchain tech into government agencies, as well as the force’s recommendations on implementing such solutions.