ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Thursday May 24th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Colorado Passes Bill Bringing Distributed Ledger Technology To The Forefront

By

Nathan

Graham

WriterETHNews.com

On May 8 Colorado legislators passed a bill mandating the exploration of distributed ledger technology for the storage of sensitive data, banning fees on certain users of this technology, and encouraging colleges to add it to their curricula.

On May 8, 2018, Colorado passed Senate Bill 86, which focuses on eliminating barriers to the use of distributed ledger technology (DLT). In particular, the bill outlines methods for storing and transferring sensitive government data, makes sure counties and cities in Colorado do not levy high taxes against businesses that use this technology, and encourages the introduction of blockchain technology to college curricula within the state.

According to the bill, "In 2017, the cyber threat to the Colorado Government included six to eight million attempted attacks per day." According to supporters, the bill would reduce the threat of such hacks on government data. It requires the chief information security officers of the governor's Office of Information Technology (OIT) to "annually assess the data systems of each public agency for the benefits and costs of adopting and applying distributed ledger technologies such as blockchains." The Department of State and the executive director of the Department of Regulatory Agencies will also be required to explore DLT and blockchain solutions for encryption.

The bill not only focuses on how blockchain technology is able to change the way governments store and transfer sensitive data, but also has implications for Colorado business owners and private citizens. The bill stipulates:

"A county or municipal government shall not:
(a)  impose a tax or fee on the use of distributed ledger technologies by any private person or entity; or
(b)  require any private person or entity to obtain from any public agency any certificate, license, or permit to use distributed ledger technologies."

Such protections may help implement DLTs more fully into Coloradans' daily lives, but bringing DLT instruction into the state's colleges is arguably more important. After all, very few people know what DLT is and how it works, and even fewer know how to develop blockchain solutions.

The bill attempts to remedy this lack of knowledge by encouraging "institutions of higher education [to include] distributed ledger technologies within their curricula and research and development activities."

The passage of SB86 in Colorado marks another small but important legislative victory for the adoption of blockchain technology. A number of states, including Illinois, Arizona, and Hawaii have introduced legislation to explore how blockchain technology can not only keep government records safe and consistent, but potentially improve their economies.

Nathan Graham

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Colorado, legislation or other Ethereum law and legislation news.