Illinois Blockchain Initiative Unveiled: US State Reveals Sweeping Policy and Plan to Attract Innovators
What started as an early experiment by the state of Illinois to offer insurance services on a blockchain has expanded into a formal state-wide initiative. Announced today at Blockchain Conference Chicago, the Illinois Blockchain Initiative, a first-of-its-kind consortium comprised not just of companies – but of five government agencies, is a far-reaching measure aimed at not only making it easier for startups to innovate but removing barriers for the government to build with blockchain. In conversation with CoinDesk, Secretary of the Illinois Department of Financial and Professional....
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On 1st December, the state of Illinois took its first step in its ambitious multi-agency plan to guide the integration of blockchain technology into government operations. The Illinois Department of Financial and Professional Regulation (IDFPR) announced that it has released for public comment its proposed Digital Currency Regulatory Guidance on decentralized "virtual currencies", which is intended to address inadequacies found in the IDFPR’s interpretation of the state’s Transmitters of Money Act. The release happened at the same time the state’s Department of Innovation & Technology....
A draft resolution submitted to the Illinois legislature has proposed the creation of a working group dedicated to blockchain technology. House Resolution 120, filed on Wednesday by state representative Michael Zalewski, would establish a 12-person group focused on researching the tech. Public records show that the resolution has been referred to the House Rules Committee for consideration. At its heart, the draft calls for Illinois to investigate how state and local-level governments can utilize blockchain – work that is already being done, in a way, by a consortium of government agencies....
Legislators are now preparing to welcome BitcoinThe General Assembly of the State of Illinois has announced that it has held a hearing regarding the role of virtual currencies and this meeting included a proposed amendment to Illinois's Transmitters of Money Act. Elizabeth Hernandez, the Democratic representative for area 24 in the Illinois House of Representatives, introduced an amendment to the state's Transmitters of Money Act seeking to clarify the role of cryptocurrencies, and their use, throughout the state. The Financial Institutions Committee hearing took place at 3.30 p.m on....
Delaware Gov. Jack Markell announced a state initiative to embrace blockchain and smart contract technology to help public and private enterprises lower transactional costs, automate and speed up transactions and reduce fraud. Markell announced the plan to look into blockchain technology while delivering a keynote address at Consensus 2016, a New York technology conference on blockchain innovation. The Delaware Blockchain Initiative is designed to provide a legal and regulatory environment for developing blockchain technology and encourage blockchain companies to locate in Delaware. The....
Some are fond of the phrase, "gambling is a tax on people who are bad at math." While it's true that the house makes a profit, and therefore "always wins," the fact is that now and then someone has to win or else people won't play anymore. There are many ways to gamble, from scratch-off and lottery tickets to slot machines and skill-based games like poker, as well as betting on sports events. The latter games aren't legal everywhere, with the local governments preferring to have an exclusive monopoly over gambling. Although Illinois has some legal casinos, they are dwarfed in comparison to....