North Carolina's Lt. Governor Launches Blockchain Initiative

North Carolina Lieutenant Governor Dan Forest has launched an initiative to study the "unique attributes and use-cases" of blockchain tech.

Jul 9, 2019 at 12:05 p.m. UTC
Updated Sep 13, 2021 at 9:24 a.m. UTC

North Carolina Lieutenant Governor Dan Forest has launched an initiative to study the "unique attributes and use-cases" of blockchain tech.

Announced July 2 on Forest's own website, the North Carolina Blockchain Initiative will be a non-partisan initiative aimed to develop recommendations on how the tech can be used to boost opportunities for economic growth and cost efficiencies in the state. It's also hoped the results of the work could boost North Carolina as a "leader in technological innovation."

Alongside blockchain technology, the initiative will examine the potential of "virtual assets, smart contracts and digital tokens."

Co-chairing the new body will be Faruk Okcetin of the North Carolina Digital Economy Hub; Daniel Spuller from the Chamber of Digital Commerce; and the Warp Institute's Eric Porper. General members include individuals from technology, law, banking, business, government and policy.

Lt. Governor Forest said:

“It is my hope to provide a strategy to share with our General Assembly, Department of Insurance, Department of the State Treasurer, and other state agencies that will increase awareness, streamline regulatory oversight, and modernize state government."

Back in 2016, the state became an early mover on blockchain legislation, passing into law House Bill 289 that expanded the state’s Money Transmitters Act to cover activities related to bitcoin and other cryptocurrencies.

Perianne Boring, president of the Chamber of Digital Commerce, said at the time that the state had “made history” by providing an alternative, legislative-based model to industry-specific rule-making.

North Carolina state capitol image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After Armstrong Tweet, India's Crypto Policy Body Says No Contempt of Court Challenge vs. RBI

The Coinbase CEO last month suggested the RBI's "shadow ban" of crypto exchanges violated a Supreme Court ruling.

The Coinbase CEO last month suggested the RBI's "shadow ban" of crypto exchanges violated a Supreme Court ruling.

CoinDesk - Unknown
2
CoinDesk - Unknown
Portuguese Congress Rejects Two Bills Seeking to Tax Crypto

The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.

The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: Regulatory Attention on Terra Could Change South Korean Trading Environment; Bitcoin Goes Sideways

The founders of two prominent crypto-related organizations said tightened restrictions could make it difficult for foreign tokens to list on Korean exchanges, discouraging projects from trying.

The founders of two prominent crypto-related organizations said tightened restrictions could make it difficult for foreign tokens to list on Korean exchanges, discouraging projects from trying.

CoinDesk - Unknown
4
CoinDesk - Unknown
A16z Doubles Down on Crypto Investments Despite Market Downturn, and NFL Launches Play-to-Earn NFT Game

The most valuable crypto stories for Wednesday, May 25, 2022.

The most valuable crypto stories for Wednesday, May 25, 2022.

CoinDesk - Unknown