Gubernatorial Candidate Vows To Turn Colorado Into US’ Blockchain Hub

Admittedly, the US government’s blockchain and crypto regulation are coming at a sluggish pace. No matter. Other states will adjust. This time, it will be Colorado.

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US Representative Jared Polis, who is currently aiming for the gubernatorial position in Colorado, recently released a blockchain policy for his campaign on his official website yesterday, August 9.

This is in recognition of distributed ledger technology’s metamorphosis into a multibillion-dollar industry and its potential to revolutionize industries “across the nation and our state,” according to Polis’ policy.

Five Aspects

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Jared Polis, US Representative and Gubernatorial Candidate for Colorado

Should he win in the election, Polis vows to focus on five aspects to ensure that the state’s economy and government will benefit most from the said technology.

First, he will bolster the state’s cybersecurity by coordinating with the Secretary of State and legislators in ensuring that local communities can have secure elections, as well as by working alongside the Council of the Advancement of Blockchain Technology in revamping the state’s cyber network.

Second, he will collaborate with the lawmakers to create a “safe harbor” which will exempt cryptocurrencies from state money transmissions laws.

Polis continued:

“I will work to establish legislation that protects ‘open blockchain tokens’… [which] could allow our state to attract innovative companies and allow them to engage freely in them—as issuers, exchanges, wallet providers—without the licensing requirements of the multitude of securities and currency laws.”

While Polis admits that the second action is bold, he believes that it will place the state on the map for fostering new technologies and experimenting with the best means to implement safeguard both in the state and across the entire country.

Third, he will work alongside the Public Utilities Commission (PUC) and other significant organizations to improve the state’s energy grid, as well as to “make our energy more reliable, secure, and cheaper.”

Fourth, he will make use of blockchain to digitize government records, which will render the documents accessible to the public and practically immutable. This will, according to him, “reduce the size and cost of government bureaucracy while improving government services.”

Finally, he will continue to extend his support to the Office of Economic Development and International Trade in looking for more ways to integrate blockchain technology into its many sectors.

Crypto Advocate

Polis has long been a crypto enthusiast and advocate. In 2014, he hosted a Bitcoin Demo Day at the US Capitol to provide an avenue for his fellow legislators to ask renowned experts questions about cryptocurrencies. Also, he was the one who led the establishment of the Congressional Blockchain Caucus, which is a group focused on expanding blockchain technology and that which promotes a more liberal approach toward crypto regulation.

“My goal is to establish Colorado as a national hub for blockchain innovation in business and government,” Polis expressed. “I believe strong leadership will put Colorado at the forefront of innovation in this sector—encouraging companies to flock to the state and establishing government applications that save taxpayers money and create value for Colorado residents.”

The post also informed that Jared Polis accepts cryptocurrencies as a donation.

In the meantime, you may check out these articles on our cryptocurrency news website to keep track of the most recent developments in the country’s crypto and blockchain legislation.

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