Bill > HJR153

This Joint Resolution establishes a temporary, 13-member joint subcommittee composed of legislators and non-legislative members with expertise in technology to study the potential use of blockchain technology in Virginia's state government. Blockchain technology, described as a secure, distributed database system, is being considered for its potential to improve state recordkeeping, information storage, and how government services are delivered, offering benefits like increased efficiency, cost savings, and enhanced cybersecurity. The subcommittee will research the opportunities and risks of implementing blockchain, explore different types of this technology, examine how other states and countries are using it, and consider how its adoption could boost Virginia's information technology industry and what legal changes might be needed to support it. The study is to be completed by November 30, 2018, with findings and recommendations to be submitted to the General Assembly and the Governor. Funding for the study will be sought through private donations to a cryptocurrency wallet, rather than through budgeted state funds.