Rhode Island may be known as the smallest governing jurisdiction in the United States, but this is only in terms of square miles; when it comes to economic output and development, the Ocean State has always taken a leadership position. For this reason, it makes perfect sense to learn that state administrators are seeking proposals from blockchain development firms to work on new projects.
The specific state agency making the request is the Division of Purchase within the Rhode Island Department of Administration. In essence, the blockchain solutions that Rhode Island is looking for will help state government agencies become more efficient and transparent. The immediate goals are as follow:
Allowing administrators and key employees to learn how blockchain projects can advance government functions.
Comparing blockchain projects against similar solutions such as databases and cloud computing apps.
Learning about the ability of Rhode Island residents to access the blockchain from various computing devices. An example provided by the state in its solicitation is the ability of professional licensees to record or verify their information.
Learning about the ability of modern blockchain systems to interact with legacy computing equipment.
Identifying time-saving efficiencies as well as potential cost-savings scenarios, including how Rhode Island blockchains may be able to connect with similar networks used by other states.
In addition to the information above, Rhode Island administrators are specifically contemplating the use of blockchain solutions to be used in:
Keeping track of transactions within the highly regulated medical marijuana industry.
Maintaining a database of recorded fraudulent activity for the purpose of preventing similar cases in the future.
Managing state records, including notarized records kept by the Secretary of State. It should be noted that this would include business registration databases.
Rhode Island has not passed too much legislation with regard to cryptocurrencies, but the development in this regard have been mostly positive. Legislators seem to be open to the idea of excluding Bitcoin and other crypto tokens from being considered securities, which means that they would be exempted from registration, and this suggests that Rhode Island may become friendly towards digital currencies in the near future.