Colorado Opens its Doors to Blockchain Companies

As part of that desire, the state of Colorado sets its sights on the Blockchain to establish a true management of water rights.

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As part of that desire, the state of Colorado sets its sights on the Blockchain to establish a true management of water rights.

This is how legislators in Colorado pretend that the US state. UU., Study the feasibility of being able to take the blockchain technology in order to improve the management of water rights.

That is why the Republican senators Jack Tate, along with the other representatives Marc Catlin and Jeni James Arndt, in this case (Democrat), raised this past Tuesday a Senate Bill 184, proposing in that project that the Water Institute Colorado should get all possible authority to evaluate how the blockchain can help improve its procedures.

In this case the institute is a subsidiary of the Colorado State University, which could evaluate the different use cases where the Blockchain technology can improve its management including, the database of water rights, the establishment of “banks” or water markets and general administration, according to the bill presented by these representatives.

This evaluation could only be carried out if the institute has the possibility of receiving sufficient capital, as well as being allowed to request donations from other private or public institutions that are interested in contributing for this purpose. Subsequently, the conclusions must be reported in a general assembly, in which final decisions can be made, the legislators said.

For its part, the Colorado Water Institute has the mission to “connect all of Colorado’s higher education experience to the research and education needs of Colorado water managers and users.”

The state of Colorado also has a “complex regulatory scheme for the distribution of water rights and water use in the state,” according to the Open Energy Information website (OpenEI), which was established by the Department of Energy of USA.

In fact we can see a similar use case where this technology was used in which IBM, last month, collaborated with two organizations, Freshwater Trust and SweetSense, to track the San Joaquin River Delta of California in “real time” and Manage the use of groundwater through the Blockchain and Internet of Things (IoT).

Equally, Governor Polis invited 18 blockchain entities to the Capitol of the State of Colorado. “Colorado is open for business, blockchain companies,” said Colorado Governor Jared Polis, with an influx of around 100 people, declared Blockchain Day at the State Capitol.

This event was held on February 27, its purpose was to relate and inform legislators, regulators and also the industry of the benefits of blockchain technology and what this may influence future public policy.

On the other hand, this was the first event of Governor Polis with the Blockchain community since he took office in January. However, Polis is no stranger to blockchain technology or cryptocurrencies.

He became governor after sitting for ten years in the House of Representatives of the United States. Also in 2016, Polis (then D-CO) and Mick Mulvaney (R-SC) co-founded the Congressional Blockchain Caucus, in an effort to instruct members of Congress on emerging technology.

Polis was also the first member of Congress to accept donations in Bitcoin in his political campaign.

At the time polis celebrated the efforts of former Governor John Hickenlooper, from the capital since he was the one who established the Colorado Blockchain Council in 2018. The speech of Polis was framed directly in the various qualities of the Blockchain and seeing this as a solution to a political problem that arises from the distrust of large institutions, he said.

“On the left,” he explained, “this manifests itself as distrust of large companies; On the right, as a distrust of the big government.”

“In many ways, the blockchain is a solution,” added the Governor. “We do not have to trust big companies; we do not have to trust the big government. We can trust ourselves through distributed accounting technology. “

Colorado Digital Token Law

Colorado is seeking to define its position promptly on the use of blockchain technology and digital assets. Part of that urgency could be due to competition, after one of the companies behind Cardano, IOHK, announced that it would leave Hong Kong and establish itself as a US company.

Instead of settling in Colorado, IOHK decided on Wyoming, Colorado’s neighbor to the north.