Bill > H88

This bill establishes a special 25-member commission to investigate and develop a comprehensive plan for blockchain technology's expansion in Massachusetts. The commission will include legislators, government officials, and appointees from various sectors, such as financial technology, consumer protection, and higher education. The commission's mandate is to examine numerous aspects of blockchain technology, including its potential use in government records, court proceedings, and business operations, as well as exploring its impact on state revenues, cryptocurrency regulation, consumer protection, and energy consumption. They will specifically investigate the feasibility of using blockchain in state registries, corporate record-keeping, and potential tax implications of cryptocurrency transactions. The commission is tasked with considering historical barriers to technology adoption, especially for underrepresented groups, and will consult with a diverse range of stakeholders. Within one year of its formation, the commission must submit a detailed report to the state legislature, including a master plan for fostering blockchain technology and draft legislation to support its recommendations. The bill also provides a technical definition of blockchain as "a mathematically secured, chronological and decentralized ledger or database."

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https://malegislature.gov/Bills/194/H88