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Wyoming: New Blockchain Committee to Focus on Digital Identity and Property Rights Solutions

According to a report by Wyoming Tribune Eagle published on May 17, 2020, Rep. Jared Olsen, R-Cheyenne, and Senate Minority Leader Chris Rothfuss, D-Laramie, have announced the formation of Wyoming’s new permanent Select Committee on Blockchain and Financial Technology.

Wyoming Goes Big on Blockchain

Wyoming Legislature has announced the creation of a new blockchain committee to foster the development of a digital economy. Notably, the announcement comes shortly after the successful conclusion of the Wyoming Blockchain Task Force launched in 2017.

Retrospectively speaking, the Task Force turned out to be a success story for Wyoming’s local blockchain ecosystem as it played an instrumental role in the enactment of 20 new laws pertaining to the development of distributed ledger technology (DLT) space within the state.

Per sources close to the matter, with the passage of House Enrolled Act 73 earlier this year, the Wyoming Blockchain Task Force has transitioned to an ongoing legislative select committee.

The select committee is co-chaired by Olsen and Rothfuss and comprises other members including former Task Force members Senate Vice President Ogden Driskill, R-Devils Tower; Judiciary Committee Chairwoman Sen. Tara Nethercott, R-Cheyenne; Corporations Committee Chairman Rep. Tyler Lindholm, R-Sundance; and Rep. Mike Yin, D-Jackson.

Most recently, the select committee announced the addition of two new legislative members, Senate Majority Floor Leader Dan Dockstader, R-Afton, and, chairman of the House Minerals, Business and Economic Development Committee Chairman Rep. Mike Greear, R-Worland.

The newly constituted select committee will aim to build upon the foundation laid down by the task force with a focus on digital identity, digital property rights, and emerging fintech.

Thanks to the COVID-19 pandemic, the select committee will hold its first two virtual meetings online. While the first meeting will focus on digital property rights, the second meeting will largely revolve around blockchain’s scope in the digital identity space.

U.S. Regulations on Blockchain Technology

Several U.S. states have taken it upon themselves to draft and deploy blockchain and fintech laws to lead the country toward increased digitization.

As  reported on March 7, 2020, that a Virginia lawmaker was lobbying her commonwealth’s authorities to explore the potential of DLT for election purposes.

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