Washington State Passes Bill To Study Benefits of Blockchain Tech

Washington state will attract and support new businesses via its Blockchain Work Group bill that aims to study the technology’s benefits

article-image

The Capitol building in Olympia, Washington | Source: Shutterstock

share

key takeaways

  • Washington has formally adopted a bill into law that establishes a working group to examine blockchain tech
  • The group, comprised of lawmakers, industry experts and government representatives, are to submit their findings to the state’s governor by Dec. 1, 2023

Washington state has formally adopted a bill empowering a working group to examine applications for blockchain technology across a number of industries.

Signed into law by Gov. Jay Inslee on Wednesday, the Washington State Blockchain Work Group bill will bring together a number of blockchain stakeholders to study the tech’s use in finance and banking.

Benefits for computing, real estate transactions, health care, supply chain, higher education and public record-keeping will also be examined by the group.

The group tasked with studying the tech’s viability in those fields include representatives from the departments of commerce and financial institutions. The state’s Consolidated Technology Services agency, as well as lawmakers and industry experts, are also represented.

Ten state senators sponsored the bill, including Sen. Sharon Brown, Sen. Perry Dozier, Sen. David Frockt, Sen. Robert Hasegawa, and Sen. Mark Mullet.

Senate Bill 5544 is attempting “to help attract and support employees and new businesses with a supportive ecosystem.” The bill passed the state’s Senate Environment, Energy and Technology Committee in February before passing through the Rules Committee and making its way to the Senate floor.

“Every day, companies are adopting blockchain technology to improve delivery of services,” Brown said in a statement.

“This new law is a vital first step in creating an environment that is welcoming of new business prospects.”

Despite having received overwhelming bipartisan support, the bill’s journey into law has not been straightforward. Initially vetoed by Inslee in 2020 in another form, the bill has gone through several readings and amendments to pass into law.

The group is expected to host its inaugural meeting by Dec. 1 of this year and submit a report to the governor on its findings by Dec. 1, 2023, after which time the group will be dissolved.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

REPORT_Template.png

Research

The Sonic blockchain is leveraging redesigned airdrop incentives and its FeeM program to propel DeFi activity and attract institutional capital, setting the stage for ecosystem growth. Within this environment, leading protocols Shadow Exchange and Silo are poised to asymmetrically benefit due to innovative features and favorable valuations, despite facing ecosystem dependency and competitive pressures. This positions them as compelling, potentially shorter-term, investment opportunities contingent on Sonic's sustained success.

article-image

Bitcoin needs a price, but its magic runs deeper

article-image

Circle had a pretty successful first day of trading, but what’s next for the stablecoin issuer?

article-image

Solana’s USDC caught a boost after being paired with the TRUMP memecoin

article-image

The stablecoin issuer’s successful first day of trading is likely to spur more crypto IPOs, industry watchers say

article-image

Job openings rallied and continuing claims stalled ahead of May’s employment report

article-image

A group of Twitch streamers battle for bitcoin. Will their chats help them?