Colorado Elects Blockchain Friendly Governor

November 9, 2018 / by Angel Reyes

Tuesday’s election results bring a big win for Bitcoin and blockchain with the election of democratic candidate Jared Polis as governor of Colorado.

After defeating his opponent, Walker Stapleton, Polis now aims to integrate blockchain technologies into local government.

Polis began supporting cryptocurrency in his previous position the Congressional representative for Colorado’s second district. He is known for his satirical stance to ban the U.S. dollar in response to West Virginia Senator Joe Manchin’s call to ban cryptocurrency.

Governor-elect Polis has promised support for Colorado blockchain companies as part of his Blockchain Policy campaign platform. As the owner of many successful technology startups and an early digital currency adopter himself, Polis hopes to bring innovations to the public sector.

Previously, Polis and Rep. David Schweikert (R-Ariz) attempted unsuccessfully to pass a nationwide Cryptocurrency Tax Fairness Act in 2017 — a legislative amendment to a House tax reform bill aimed at allowing “small purchases with cryptocurrency up to $600 without burdensome reporting requirements.”

Polis now focus his efforts locally on a “statewide safe harbor designed to exempt cryptocurrencies from state money transmissions laws.” He also said he plans to “work to establish legislation that protects ‘open blockchain tokens’ or cryptocurrencies that are exchangeable for goods and services.”

He’s also expressed interest in bringing blockchain to the polls, saying blockchain would provide greater voter protection, transparency, and efficiency.

An internet-based voting system was tested in West Virginia earlier this year, but reported difficulties with efficiently counting votes and maintaining security.

Other endeavors include energy solutions, government record transparency, and the establishment of a Council for the Advancement of Blockchain Technology Use to support development and international trade.

We think the goal of making Colorado a crypto hub will surely attract companies to the region. Government support and collaboration will be big steps for adoption and implementation in the future.