Categories: CryptoNews

Vermont Senate Will Vote On Implementing Blockchain And Smart Contracts

The state of Vermont in the United States is quite an unusual creature, as they seem to be on the fence as to whether or not the blockchain and smart contracts will become a part of everyday society. After initially seeing the value of the technology, and then deeming it too costly, it looks like “Blockchain Enabling” is still on the table.

What is Blockchain Enabling in Vermont?

Later today, the Vermont Senate will come together in a meeting to decide on whether or not they will finally greenlight the implementation of blockchain technology in the region. However, the question remains as to how they seek to implement this technology, as there are so many different use cases for the blockchain available today.

Most people are well aware of how the blockchain could be a versatile tool for record keeping and document notary services. Ensuring the information in a particular document is valid and hasn’t been tampered with would be extremely beneficial to any government in the world, yet hardly anyone has ventured into this space so far.

It is worth noting the Vermont Blockchain Enabling proposal has already passed the House last month, a news fact which has gone by almost entirely unnoticed. This seems to indicate there are plans as to how local officials want to use the blockchain outside of the realm of finance, which is a nice change of pace these days.

Related Post

Various types of government records could be stored on a blockchain, and the technology even lends itself for issuing identities in a digital format. Several countries around the world already use “tokens” to verify one’s identity when accessing governmental services, and there is no reason not to take things to the next level with a distributed ledger of information.

Last but not least, the Blockchain Enabling proposal also makes a mention of contractual parties and their obligations, which may indicate a closer look at smart contract

technology in the future. Keeping in mind how that protocol is used in conjunction with the blockchain, exciting times could be ahead for the people of Vermont.

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

2 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

3 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

3 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

4 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

7 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

8 hours ago