Vermont senator to introduce new blockchain initiatives, including e-residency

Senator Alison Clarkson offers the state of Vermont to implement the electronic residency program based on the blockchain. Similar steps are currently being made in Estonia.

As the American portal dedicated to the government technology reminds, Vermont has already implemented the law which made blockchain verification a credible evidence in court, and this happened two years ago.

The Green Mountain State is currently in economic decline and the senator hopes that more inventiveness and optimization could improve this situation. This will include a study of local laws with intention to find out how can they be improved with the help of the latest digital technologies and create Digital Currency LLCs - these organizations will operate as limited liability companies. Taxation of such companies will be in the form of their digital currency once a new coin is mined, bought, sold or sent to someone else. The tax will be equivalent to $0.01, the bill notes.

This legal activity might serve as an example of the world practice for countries which may decide to implement something similar later, in the far future. The reason why they are not rushing to do so right now is their poor economic state (every blockchain itself requires resources) or just financial conservatism.