The Californian Government has included an important Ripple executive, a Senator and Californian lawmaker among members of its newly created Blockchain Working Group.
The group, created by the Government Operations Agency (GovOps) to enable the implementation of Government Code Section 11546.9, comes as another stepping stone for Ripple to increase its usage across the US, as well as joining decision makers regarding the future of cryptocurrency and blockchain projects.
Liz Chien, Ripple Labs’ VP of Global Tax and Chief Tax Counsel. She formerly held Google’s Head of Tax for the former Asia-Pacific Head of Tax.
The cerebral Ripple employee joined the startup from General Electric, serving as the firm’s Global Tax Director and Senior International Tax Counsel until her departure for Ripple Inc.
Early August, the California Government Operations Agency Secretary Marybel Batjer pointed Camille Crittenden, who was the Executive Director of the Center for Information Technology Research, to lead the blockchain working group.
In the published release by the California government, the working group will be made up of 20 members.
The group, formed on under the Government Operations Agency, is saddled with the responsibility of researching and documenting the developing technology’s possible use cases, benefits, as well as risks to the state government and businesses wanting to buy into the idea.
California Government Wants to Know About Emerging Blockchain Technology
The research report is to be filed to the Legislature by July 1, 2020. The report would expose the unique functions of the emerging blockchain technology and how the state government can benefit massively from the idea.
The working group members are to look at the impact of distributed ledger systems, its promising use cases beyond cryptocurrency.
The members will also venture into Blockchain’s social impact, how it could be used in documenting land and property rights, and its use cases in the legal industry like keeping chain of custody for legal evidence.
The report is to contain the impact of blockchain technology in the supply chain industry, financial and health industry.
The working group contains experts with broad knowledge in the finance industry and other diverse range of works. Legislators, policy makers and others notable entities are in the list of the selected members.
Ripple in the Remittance World
Ripple is performing excellently in the remittance industry. The firm has over 200 partners, with world’s big banks forming the partnership.
Ripple had invested in big firms and businesses having the potential of increasing the use cases of XRP, Ripple native token widely used for cross-border remittance.
Recently, Ripple invested in MoneyGram and Algrim among other big.