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Cynthia Lummis touts blockchain at Senate Wyoming House address | Local

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Republican Senator Cynthia Lummis used the platform to advocate the role the state can play in technological innovation in the Wyoming House of Representatives and the Senate on Friday morning.

Lumis emphasized her impetus for expanding local broadband and her role in the Senate Transportation Commission subcommittee on space and science. But she argued that digital technology could be used to track everything from cryptocurrency ownership records like Bitcoin to real estate and government records, and the Wyoming State Capitol promoted the permission and regulation of blockchain technology. Congratulated. According to McKinsey and Company, the value of blockchain is the ability to validate information and exchange value without relying on third-party privileges.

Because of the truly innovative and thoughtful work this Congress has done on special purpose deposit agencies and the ability to invest in Bitcoin, you have Wyoming ahead of all other states and before the United States. I made an effort to create opportunities. Lumis told the Wyoming House of Representatives about the blockchain blockchain, especially Bitcoin.

After spending 14 years in the Wyoming State Capitol, Lumis was the only state representative in the US House of Representatives from 2009 to 2017. She was elected to the US Senator in November and is currently on three Senate committees: Environment and Public Works. Commerce, science, transportation; banking, housing, urban development.

Lumis is a Bitcoin investor who became a bit viral when he edited his profile picture on Twitter in February and had two glowing red robot eyes. Per The Hill supported the # LaserRayUntil100K meme. This is a virus epidemic that Internet investors have seen changing their profile pictures like Lumis. This change was intended to support a Bitcoin rally that could bring the price of coins to $ 100,000.

The Wyoming State Capitol has recently passed a number of blockchain bills near home. It established a permanent special committee on blockchain, financial technology and digital innovation technology, especially approving charter for special purpose deposit handling institutions. The state legislature created these institutions, partly due to the lack of investor options for blockchain technology. According to legislative findings, most everyday banks are generally not allowed to manage their accounts or hold other digital assets in cryptocurrencies.

Mr. Lumis is advocating at the federal level to approve the chartered SPDI in Wyoming, with Senator Kristen Cinema in Arizona to strengthen Congress’s understanding of Bitcoin and its ability as a store. He said he had created a caucuses of financial innovation. Literally worth saving us from ourselves.

Bullish on cryptocurrencies, Lumis suggested that Bitcoin could even be used to repay a country’s debt.

She acknowledged the achievements of Wyoming State Capitol, but the success of the federal blockchain has yet to be seen.

The work you have done on financial innovation is very important, Lumis told Senate Wyoming. Nothing in the country can match it, including what the federal government has done.

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