New York Legislature Introduces Four Blockchain Bills

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New York lawmaker, Clyde Vanel, recently introduced four bills involving blockchain technology.
The bills were part of an effort to spark research into the different possible uses of blockchain by the state’s government.

The proposed laws would institute legal language for the technology under state law.

It would also establish research around its application for local and state elections, including the confirmation of voter tallies.

The first bill would add sections to New York's technology law, which define “blockchain technology” and “smart contract.”

It would also offer a legal understanding for digital signatures stored on a blockchain.

The second bill "directs the state board of elections to study and evaluate the use of blockchain technology to protect voter records and election results."

It gives this study a year to manufacture a report clarifying whether a blockchain platform can limit or prevent voter fraud.

The study will also see if it can improve cybersecurity around digital voting platforms, maintain better voter records and efficiently share election results.

The third bill also appeals for a study and the creation of a task force.

This task force would be charged to see whether a blockchain platform could be used by the state government to store records and share information quickly and efficiently.

This particular measure is akin to one that was proposed in Vermont in 2016.

However, that bill failed to see the light of day after case officials officially passed on it.

The New York bill would necessitate the task force to hold one public hearing during its study.

A final report would be expected no later than January 1, 2019.

The fourth and final bill would, if passed, formulate a digital currency task force to resolve the effect of cryptocurrencies on New York financial markets.
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