Connecticut Non-Profit Uses Blockchain for Government Project
The Connecticut Technology Council (CTC) has partnered with blockchain startup Tierion for a trial that will find government survey data secured on the bitcoin blockchain. As part of a drive to glean data from some 200 Connecticut technology companies, the state's Department of Economic and Community Development (DECD) is seeking perspective on issues including workforce demand and tax code awareness, among other issues, in a broad survey. As explained by Tierion CEO Wayne Vaughan, the company's blockchain technology is not essential to the survey process, but rather provides the startup....
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Blockchain technology company Tieron is working with the Connecticut Technology Council (CTC), a non-profit organization encouraging local technology development. With this partnership, the CTC and Tieron plan to run a trial on finding government survey data using blockchain technology. Blockchain is the public ledger of bitcoin transactions, which are updated and verified by a network of computers solving complex algorithms in a process known as bitcoin mining. While bitcoin enjoyed its claim to fame a few years back, blockchain technology is gaining more attention these days thanks to....
There have been many smaller mainstream uses of the public recording information into Bitcoin’s Blockchain. Marriages and financial shareholding have also started to use blockchain technology. Now, for the first time, government survey information is being sent to the world’s most technologically-advanced online ledger. The watershed moment was recently recorded in the state of Connecticut by Tierion, who’s business concept is to record information onto Bitcoin’s Blockchain. State of Connecticut officials sought out Tierion to survey the state’s top 200 technology companies to learn how....
The Connecticut House of Representatives has passed a bill that would give the state's top financial regulator new powers to oversee parts of the local digital currency industry. If signed into law, Substitute House Bill No. 6800 would require a company seeking a money transmission license from the Connecticut Banking Department to specify that it plans to offer digital currency services. State regulators would then be empowered to assess whether or not to reject that applicant's request based on the potential risks to consumers. The bill states: "The bill allows the commissioner to deny a....
According to reports in local media in a small town in Connecticut, some residents have been receiving threatening letters that demand bitcoin as a form of ransom. Police in the town are looking into the situation as to Farmington residents reported receiving what the media is calling "disturbing" letters demanding that the recipients hand over a certain level of bitcoin or risk one of their family members being killed. The letters received give clear instructions as to how to open an account, obtain bitcoin and transfer from one wallet to another. On notifying the Federal bureau of....
If you don't want to get sucked into a scam, subject your funds to cyber attack or lose value to currency fluctuation, the Connecticut Better Business Bureau warns you to be wary of bitcoin. The bureau has released a warning to businesses, investors and consumers about using virtual currency. It warns virtual currency is subject to minimal regulation, is susceptible to cyber attacks and is not backed by any government. It warns that con artists are hawking investment swindles with it. Hundreds of thousands of merchants, including major retailers, now accept bitcoin, the bureau notes in its....