Lawmakers Planning to make Ohio a Blockchain Hub

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Ohio state Lawmakers have made their interest in blockchain known as they seek to attract developers and companies to the state. The Lawmakers who are still figuring out how to put their enthusiasm into actions made this known at a press conference on August 23rd.

Speaker for Ohio House of Representatives Ryan Smith convened a group made up of law makers, academics, and business owners to discuss the state’s intentions to attract blockchain companies and developers.

Blockchain is a series of decentralized computer networks, where data is divided and publicly stored among several public computers instead of one database or web server.

Records, currency and other pieces of information stored through blockchain are verified by several sources and can’t be erased or altered. It’s most commonly known as the engine behind digital currency Bitcoin.

Also, Smith said that by working closely with universities, the students will graduate with the skills needed to work with blockchain and also to work with the private institutions who want to use the technology. The state is interested in using blockchain in the public sector as it can be used in cases like storage of birth certificates, marriage licences and probably tax records.

“Because this is so new and this is just beginning to take shape, we can position Ohio out front,” Smith said.

Also, National Insurance chief technology security officer Jim Korcykoski has backed blockchain

“The internet fundamentally changed how we all interact with individuals, interact with businesses and interact with government,” Korcykoski said. “Blockchain has a way to bring transparency, efficiency and open up new innovative business models very similar to how the internet did.”

Ohio is presently one of the states that recognize the legal status of data stored on blockchain after passing a bill that treats blockchain data and smart contracts as electronic records.