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House Bill Analysis — ESSB 5544, Washington Blockchain Work Group (Community & Economic Development Committee)

Summary

This is a House of Representatives Office of Program Research bill analysis for the Community & Economic Development Committee on ESSB 5544, with a hearing date of 2/18/22 and staff Emily Poole. The bill establishes the Washington blockchain work group to examine potential applications for blockchain technology and requires a report to the Governor and the Legislature by December 1, 2023. The analysis lists the members, including two senators, two representatives and several state agency directors, plus tribal and trade association representatives. It states the first meeting is due by August 1, 2022, with staff support from the Department of Commerce. Appropriation is listed as None, a fiscal note was requested on February 12, 2022, and the bill takes effect 90 days after adjournment.

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“House Bill Analysis — ESSB 5544, Washington Blockchain Work Group (Community & Economic Development Committee).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-02-22-a29911-d242443-bill-analysis-461bc485b7/, SHA-256 21dab69d399e7799aeabf8e1d01ecc706ef141648488d25da74979e254ce0ade.

Full text

Washington State                 BILL
House of Representatives
Office of Program Research  ANALYSIS
Community & Economic Development
Committee
                                      ESSB 5544
Brief Description: Establishing the Washington blockchain work group.

Sponsors: Senate Committee on Environment, Energy & Technology (originally sponsored by
    Senators Brown, Dozier, Frockt, Hasegawa, Mullet, Rolfes, Short, Wagoner, Wellman and
    Wilson, L.).


                         Brief Summary of Engrossed Substitute Bill
          • Establishes the Washington blockchain work group (work group) for the
            purpose of examining various potential applications for blockchain
            technology.
          • Requires the work group to submit a report to the Governor and the
            Legislature by December 1, 2023.


Hearing Date: 2/18/22

Staff: Emily Poole (786-7106).

Background:

Legislation was enacted in 2019 providing that an electronic record may not be denied legal
effect because it is generated or stored using distributed ledger technology. Distributed ledger
technology means any distributed ledger protocol and supporting infrastructure, including
blockchain, that uses a distributed, decentralized, shared, and replicated ledger. Blockchain
means a cryptographically secured, chronological, and decentralized consensus ledger or
consensus database maintained via Internet, peer-to-peer network, or other similar interaction.




     This analysis was prepared by non-partisan legislative staff for the use of legislative
     members in their deliberations. This analysis is not part of the legislation nor does it
     constitute a statement of legislative intent.

House Bill Analysis                             -1-                                       ESSB 5544
Summary of Bill:

The Washington blockchain work group (work group) is established. The purpose of the work
group is to examine various potential applications for blockchain technology.

The work group is composed of one senator from each of the two largest caucuses of the Senate,
one representative from each of the two largest caucuses of The House of Representatives, and
the following individuals or their designees:
    • the Secretary of State;
    • the Director of the Department of Commerce;
    • the Director of the Department of Financial Institutions;
    • the Director of Washington Technology Solutions;
    • the Director of the Department of Agriculture; and
    • the Director of the Health Care Authority.

The work group also includes individuals representing the following:
   • a federally recognized tribe located in Washington;
   • trade associations for the technology sector, financial services companies, title insurance
     companies, health care companies, Washington-based agriculture, and property and
     casualty insurance companies;
   • associations for county government officials and for public utility districts in Washington;
     and
   • environmental advocacy organizations with expertise in energy policy and sustainability.

In addition, individuals representing other sectors may be invited to participate in the work group
in an advisory capacity. Individuals participating in an advisory capacity are not members of the
work group.

The work group shall hold its first meeting by August 1, 2022. Staff support for the work group
must be provided by the Department of Commerce. A public comment period must be provided
at every work group meeting.

The work group is required to submit a report to the Governor and the Legislature by December
1, 2023, on potential uses and impacts of blockchain, including impacts on existing industries,
utilities, demand for electricity, and demand for computer processing capacity, and
recommended policies that will facilitate the development of blockchain applications in
Washington.

Appropriation: None.

Fiscal Note: Requested on February 12, 2022.

Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is
passed.


House Bill Analysis                            -2-                                      ESSB 5544

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