Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest.
Vermont. Early this month, Vermont’s governor formally asked a broad coalition of stakeholders to consider whether blockchain technology could be used to help manage state records. While still in its investigative stage, Vermont’s interest in using blockchain technology in government operations may serve as notice to other states and countries as well. Where could blockchain make a difference in government operations? The most prominent example is in the area of land records, which must be kept for a long time and also be sufficiently visible for others to track ownership. Some also say that blockchain could be used to ensure social services are delivered and used as intended. The potential for blockchain technology to reduce administrative and audit costs across all levels of government is massive and bitcoin watchers are applauding Vermont for starting the conversation.