Illinois Blockchain Report Heads to State Legislature


blockchain

Illinois is one step closer to implementing blockchain into its government systems.

An Illinois blockchain task force Jan. 10 approved a report analyzing how the state can use the technology, a co-chair of the task force told Bloomberg Law.

The report will be sent to the Illinois House of Representatives on Jan. 23 for approval, co-chair Ari Scharg, a partner at Edelson PC, said after the meeting.

A state House resolution created the Illinois Blockchain and Distributed Ledgers Task Force and charged it with researching: opportunities and risks of using blockchain; projects under development in other states; and how current law can be modified to support digital recordkeeping.

Blockchain is the technology behind bitcoin and other digital currency. A blockchain is a record of digital transactions, or a digital ledger, shared among many users and not controlled by a central entity.

Illinois is one of seven states to have launched initiatives to study government uses of the technology, Bloomberg Law data show.