U.S. Senator Cynthia Lummis on Block Chain Technology

U.S. Senator Cynthia Lummis on Blockchain Technology in Wyoming.
U.S. Senator Cynthia Lummis on Blockchain Technology in Wyoming.(Valeria Fugate)
Published: Sep. 14, 2021 at 7:10 PM CDT
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CHEYENNE, Wyo. (Wyoming News Now) - Blockchain technology is the future, according to U.S. Senator Cynthia Lummis. Wyoming is setting itself up to be a leader of this tech in the future.

Blockchain technology acts as an internet ledger, securing digital information, medical records, legal documents, wills, and is unhackable. The application (app) that launched Blockchain was bitcoin.

Wyoming legislature has been integral in developing special-purpose depository institutions to bank in bitcoin and other digital assets.

They have also created a Chancery Court, essentially a statutory framework, to develop expertise and case law regarding these innovations and charters to support them currently in front of the Federal Reserve.

Blockchain is one of the newest ways Wyoming is diversifying its economy by attracting new bitcoin mining and cloud computing businesses.

“As we transition and get deeper into this 21st century it’s very important to continue to lead in this area. That’s why I’m so excited about the hack-a-thon and the upcoming efforts to integrate students with innovators in this very promising space for Wyoming economy,” said Lummis.

University students that are learning this technology with be the teachers and innovators of the future. The full development of this tech’s capacity is expected to flourish within the next 5 to 10 years.

“This is the future and I’m so proud of Wyoming to be on the ground floor of truly the future of the economy, globally,” said Lummis.

The Fourth Annual Wyoming Blockchain Stampede or Wyo-Hack-a thon at the University of Wyoming will be the place to look at Wyoming’s future as students, sponsors and renowned innovators in tech gather.

The WYO-hack-a-thon will begin on September 21st to 26th and will be live-streamed globally.

For more information, click here.

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