Today, it’s hard to imagine that businesses and governments in Nevada could operate without the Internet.
Not long from now, it will be equally difficult to imagine how governments and businesses could have worked without access to blockchain technology.
While public awareness of the power of blockchain technology still is dawning, the Nevada Legislature can ensure the path is clear for wider adoption of this powerful new technology.
I’ve introduced two bills in the State Senate — SB 162 and SB 163 — that ensure that blockchain technology can be used in business and government transactions in Nevada.
Discussions of blockchain can get complicated pretty quickly, but essentially a blockchain is a highly secure digital ledger that cannot be corrupted. A blockchain is a time-stamped, unchangeable record of data. It’s managed by a cluster of computers that aren’t owned by any single entity. The records are secured with cryptographic principles.
When government agencies are allowed and encouraged to use blockchain technology, they become more efficient. Government officials in the past sometimes have been slow to adopt electronic records because of concerns about security. Blockchain addresses those concerns. It opens the door to the cost savings and improved public access that make electronic records such an important step forward.
Taxpayers, then, benefit directly when blockchain technology is adopted by their government.
But perhaps even more important, this isn’t just an issue of technology and streamlined government operations.
Adoption of the two bills I have introduced will make a clear statement that the state government in Nevada is forward thinking and welcomes the use of new technologies.
Businesses in the state, meanwhile, will receive clear guidance about the use of blockchain for communications and recordkeeping, giving them an important competitive advantage.
As we continue the creation of our New Nevada economy, high-tech executives around the world are sure to notice that our state government understands and embraces important new technology. Wider adoption of blockchain by Nevada’s government and businesses is an important cornerstone in the development of a tech-friendly entrepreneurial business climate in the state.
Furthermore, purchases of blockchain technology by government will help jump-start the blockchain industry in Nevada.
Many bright folks believe that blockchain will become the basis for the “New Internet.” Our state government will play an important role in maintaining Nevada’s position as a technological leader when the Legislature approves these two bills that speed its widespread adoption.