REPORT: Ohio Legislator's Toolkit for Blockchain Technology
A REFLECTION ON U.S. BLOCKCHAIN POLICY, AND CHARTING A PATH FORWARD FOR OHIO
April 5, 2022
Three years ago, the Washington, D.C.-based Chamber of Digital Commerce published the State Legislator’s Toolkit for Blockchain Technology. Its purpose was to educate state lawmakers about this new and important technology, and various policy proposals they could use to encourage its growth.
Since then, interest in blockchain and distributed ledger technologies (DLT) have continued to grow, with some states (notably Wyoming, Texas, and Florida) developing innovative policies and procedures that have resulted in their state laws becoming model legislation for other states. These legislative efforts have also captured the attention of federal lawmakers who have introduced legislation at the national level.
Meanwhile, the technology industry has started to decentralize geographically, sprawling out across the United States from Silicon Valley into new technology hubs, such as Atlanta, Austin, Dallas-Fort Worth, and Boston. This movement has accelerated in light of the COVID-19 pandemic. Accordingly, state legislators should capitalize on this trend by learning about blockchain and DLT and its applications and introducing blockchain-friendly legislation to attract blockchain innovators to their states.
After partnering with the Texas Blockchain Council to publish the Texas Edition of the State Legislator’s Toolkit, the Chamber partnered with Media Shower and the Boston Blockchain Association to create a Massachusetts edition of the Toolkit. Subsequently, the Chamber and Media Shower selected Ohio as the third state to have its own state-specific toolkit. The Ohio Blockchain Advisory Council was formed to support the Ohio Blockchain Legislator’s Toolkit. Consequently, some of the legislative proposals from the original Toolkit have been tailored specifically to the developing blockchain industry in Ohio. We have otherwise preserved the Toolkit’s content, so legislators may still refer to the policy proposals detailed within the document. (The first edition of the Toolkit is available here.)
The State Legislator’s Toolkit is intended to serve as the first step towards adopting supportive policies and legislation, helping legislators identify the various tools available to address the issues blockchain innovators are facing. We encourage lawmakers who want to support growth of this technology and its applications to work with industry in achieving carefully considered public policy.
We look forward to seeing what lies ahead for blockchain innovation across the Buckeye State, and working with leaders in Ohio industry and government to help this emerging technology continue to develop and grow.
About OhioX
OhioX is a statewide nonprofit on a mission to build Ohio into a tech hub. Our member companies and organizations make the work possible and include Fortune 500 companies, leading startups, tech-focused small and medium sized businesses, universities, research institutions, and more. As a nonprofit 501c6 association, we center our efforts around connecting, promoting, and advocating for Ohio’s tech and innovation economy.
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