Kentucky Blockchain Technology Working Group Overview
The Kentucky Blockchain Technology Working Group, consisting of statutory members and subject matter experts, evaluates the feasibility of blockchain technology to enhance the Commonwealth. Through public bi-monthly meetings, they explore opportunities in areas such as Public Utilities, Logistics, Healthcare, Finance, and Records Management.
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Presentation Transcript
Kentucky Blockchain Technology Working Group The Interim Joint Committee on Natural Resources and Energy David Carter, Commonwealth Office of Technology Dr. Brian Houillion, University of the Cumberlands November 16, 2023
Working Group Overview Nine (9) statutory members defined in KRS 42.747 & subject matter experts proposed and voted on by the core team. This year we have added advisory representation from 10XTS, a financial asset tokenization firm with a presence in KY and an additional representative of academia from the Univerisity of the Cumberlands. Currently there are sixteen (16) combined statutory and advisory members. Open meetings are held bi-monthly through the state virtual collaboration platform and are open to the public. Report to be submitted annually on December 1st of each year.
Working Group Mission Statement The mission of the Kentucky Blockchain Technology Working Group is to evaluate the feasibility and efficacy of using blockchain technology to enhance the Commonwealth by identifying opportunities for the adoption, utilization, and/or regulation of blockchain technology.
What is Blockchain Technology Blockchain is an encrypted, secure distributed ledger (decentralized database) system that maintains a digital record of transactions. Individual records, called blocks, are linked together in a single list, called a chain. Blockchain is a scalable technology used for recording transactions made with cryptocurrencies, such as Bitcoin, and it has many other applications such as supply chain and logistics monitoring, data sharing, digital voting, real estate and auto title transfer tracking, equities and energy trading, and much more.
Working Group Areas of Exploration The Kentucky Blockchain Working Group is exploring opportunities in the following areas: Public Utilities Logistics and Supply Chain Management Healthcare Finance Records Management
Thank you! Questions?
