In a story covered by Forbes Rachel Wolfson, she questioned Wyoming’s lawmakers about the actions they have taken towards blockchain. While you may think of Wyoming as an unlikely state to embrace blockchain, Wyoming has passed the most laws towards blockchain than any other US state. ‘But Why?’ Wolfson questioned.
In total, Wyoming has passed 13 blockchain laws that set and define the framework for blockchain in Wyoming. When you think of Wyoming, you probably think of cowboys or endless landscapes, and not booming technology companies. Being the least populated state in the US, you’d think Wyoming would the the last state to integrate a set of blockchain laws. But instead they’re one of the first.
Wyoming’s economy is largely based on tourism and coal. With the decrease in demand for coal, and the boom of energy in North Dakota, Wyoming’s population has been decreasing annually for the past few years. Wyoming’s blockchain laws that are designed to help advance blockchain technology for both companies and individuals.
Wolfson interviewed Steve Lupien, executive director of DATA (Digital Asset Trade Association), who stated that Wyoming’s goal with these laws is to create more jobs.
“One of the most important things for Wyoming happened when former Governor Mead created the Wyoming Governors Blockchain Task Force. This was unbelievably forward thinking, as this task force consists of industry experts such as Caitlin Long, along with legal experts who understand blockchain technology. These experts spent a year looking at what Wyoming could do to advance blockchain adoption, with the ultimate goal of creating jobs,” Lupien told Wolfson.
“There is a bit of a challenge with Wyoming’s boom and bust economy. As the coal business declines, the Wyoming Governors Blockchain Task Force force, which DATA is also a part of, looked for opportunities to bring capital into the region. We looked at blockchain and said, ‘if we create enabling legislation, then we can bring this industry into Wyoming and create more jobs,’” Lupien explained.