Alabama Blockchain Alliance Hosts Panel on Future of Blockchain and Cryptocurrency in Alabama
Alabama Takes Steps to Embrace Blockchain Technology and Cryptocurrency
Last week in Montgomery, entrepreneurs and state officials gathered to discuss the future of blockchain technology and cryptocurrency in Alabama. The Alabama Blockchain Alliance hosted a panel discussion to explore ways the state could become more crypto and blockchain-friendly.
A resolution is expected to be introduced in the legislature this week, establishing a joint legislative study commission that will spend two years studying blockchain and cryptocurrency issues and opportunities in Alabama. The goal is to position the state as a leader in the blockchain industry and educate the public and elected officials on these complex topics.
Clay McInnis, board president of the Alabama Blockchain Alliance, stated, “The Alliance has partnered with respected organizations and attended national summits to understand how state and local officials across the country are approaching these topics. We believe that industry and individuals in the space are shifting more focus to state-level activity and educational campaigns.”
Amanda Senn, Alabama Securities Commission Director, emphasized the importance of regulating cryptocurrency to protect investors from fraudulent schemes. She announced the establishment of the Financial Innovation division to explore ways to promote efficiencies through technology within the financial community.
Homewood entrepreneur Brian Krogsgard highlighted the need for the United States to support blockchain technology, stating, “The bad guys will continue to exploit it, but we need to enable the good guys to take clear steps forward. Embracing this change is inevitable and can lead to tremendous benefits.”
The panel discussion shed light on the potential for blockchain technology and cryptocurrency to revolutionize industries, but also highlighted the need for regulation and safeguards to protect investors and promote innovation.
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