Colorado Passes Blockchain Technology Legislation Supported by Filament

DENVER and RENO, Nev., May 08, 2018 -- Filament, provider of blockchain solutions for the Internet of Things (IoT) and the enterprise, announced today that the State of Colorado passed legislation that promotes the use of blockchain or other distributed ledger technologies for a variety of purposes, including to improve the state government’s operations and cybersecurity. The bipartisan Senate Bill 86 makes Colorado the first state to enact laws around the use of blockchain technology for the purpose of protecting confidential data in state records. Filament worked with Senators Lambert and Williams and Representatives Ginal and Rankin in strong support of the legislation, providing a safe regulatory environment for local businesses and organizations by preventing cities and counties in Colorado from imposing license requirements, fees, or incidental taxes on the use of distributed ledger technology, including blockchain.

“Blockchain technology has an “if you build it, they will come” appeal and I believe this bill will help to attract whole new industries to the domain and to Colorado,” said Colorado Senator Kent Lambert. “We see significant benefit for organizations and industries that adopt blockchain technology. It will be instrumental in further elevating the state’s robust technology industry, and empowering new startups and innovators.”

The bill concerns the use of encryption for state records and affirms that blockchain technology is rapidly evolving for every sector of the marketplace as it offers unique solutions to support the connection of society, technology, and finances by mapping human action to transactions performed on the internet.

“Colorado is an entrepreneurial state and this bill recognizes the vast opportunity of blockchain technology,” said Colorado Senator Williams. “It will ultimately shape a better future for Colorado's students, entrepreneurs, and government alike.”

Filament worked with Senator Lambert on the bill to give businesses security and confidence in the continuity of their operations by preventing localities from requiring licenses or imposing fees on the use of distributed ledger technologies, including blockchain. Senate Bill 86 makes Colorado an even more attractive environment for innovators and entrepreneurs.

“Filament has a strong presence in Colorado, and we are committed to furthering the benefits of blockchain technology in both the public and private sector,” said Allison Clift-Jennings, CEO, Filament. “With the passing of this bill, Colorado has demonstrated that it understands distributed ledger technology and is interested in giving businesses the space they need to innovate as applications of the technology continue to emerge.”

Read the full senate bill here: http://leg.colorado.gov/bills/sb18-086

About Filament
Filament builds blockchain software and hardware for the enterprise and the Industrial Internet of Things (IIoT). Its solutions allow connected devices and machines to securely interact with and transact value against distributed ledger technology such as a blockchain. Filament is headquartered in Reno, Nevada with offices in Denver and Minneapolis. Learn more at filament.com.

Media Contact
Christy Kemp
Dahlia Public Relations
303-898-3390
[email protected]