Sequel to the bill initiated in January (See here), there’s been an uproar around blockchain in California and it could most likely be the next U.S state allowing companies store data on a blockchain. Senator Robert Hertzberg introduced the bill (Bill 838) . The Judicial committee gave a “do pass” recommendation on April 18th 2018 according to The State Senate’s Banking and Financial Institutions Committee.
The full senate will further vote on this if the judicial committee approves the bill, legally allowing information about a company’s stocks; including ownership; stored on the blockchain. Other things that would be allowed will include:
“records administered by or on behalf of the corporation in which the names of all of the corporation’s stockholders of record, the address and number of shares registered in the name of each of those stockholders, and all issuances and transfers of stock of the corporation to be recorded and kept on or by means of blockchain technology or one or more distributed electronic networks.”
Hertzberg explained that this move is geared at having his state stay up-to-date with developing technologies:
“The world around us is changing, and government must adapt with these rapidly evolving times. California needs to continue our legacy of taking on new and developing technologies, especially ones like blockchain, which is being embraced worldwide and presents a strong level of security that is resistant to hacking.”