(Center Square) – Blockchain technology is a new segment in the financial and computing world, and at least one Pennsylvania lawmaker wants to be at the forefront as Keystone develops. increase.

Napoleon Nelson, Parliamentarian of D-Montgomery, chair of the recently formed bipartisan Emerging Technologies Caucus, has introduced a blockchain technology bill package focused on driving the expansion of the Pennsylvania blockchain industry.

Nelson’s proposal, House Bill 1370 and House Resolution 121, of Pennsylvania by abandoning legislation that does not allow businesses to provide blockchain-based technology to consumers and making regulatory recommendations. Establish a group whose mission is to plan the growth of the industry. ..

Blockchain, the most widely known tamper-proof digital transaction ledger for use as a cryptocurrency like Bitcoin, is estimated at $ 3 billion in 2020 and is expected to grow to nearly $ 40 billion by 2025. I am.

“Currently, blockchain represents a gray area of ​​regulation because many of today’s laws and regulations did not anticipate the level of technology we are currently enjoying,” Nelson said in a news release. It is stated in. “To keep our federation at the forefront of innovation, I have taken two steps to help develop a regulatory framework that supports blockchain technology in a way that promotes business development and protects consumers. Introduced. “

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By block head

Block Head is a blockchain journalist.