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Posted on: August 9, 2019

NJ Blockchain Initiative Task Force Established

Governor Murphy signed legislation establishing the NJ Blockchain Initiative Task Force. The 16-member task force, which includes the Mayors of Newark, Jersey City, and Camden as ex-officio, will study if state, county, and municipal governments can benefit from a transition to a blockchain-based system for recordkeeping and service delivery.

The Task Force will study the opportunities and risks associated with using blockchain and distributed ledger technology; different types of blockchains, both public and private, and different consensus algorithms; projects and use cases currently under development in other states and nations, and how those cases could be applied in New Jersey; and how the Legislature can modify current State laws to support secure, paperless recordkeeping.

Within 180 days of their initial meeting, the Task Force must issue a report and present its findings to the Legislature. The report must include a general description of the costs and benefits of State and local government agencies utilizing blockchain technology; recommendations concerning the feasibility of implementing blockchain technology in the State and the best approach to finance the cost of implementation; any draft legislation the task force deems appropriate to implement blockchain technology; and any other information relevant to the subject of the report. P.L. 2019, c. 213 took effect on August 8, 2019. 

Contact: Lori Buckelew, Senior Legislative Analyst, lbuckelew@njlm.org, 609-695-3481 x112.


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