In recent years, Wyoming created some of the most attractive laws in the country for establishing blockchain and cryptocurrency companies in our state. But by allowing the laws to be shaped and written by those who benefit from them, our legislative hard work accomplished everything the blockchain industry wanted but nothing the state needs. Namely, jobs and revenue.
Blockchain technology — a chain of digital records that is supposed to be near impossible to manipulate — offers a way to keep track of the ownership of a product throughout time. For example, a cow gives birth, the newborn eats Wyoming grass, is trucked to Nebraska and eventually ends up in a hamburger at an Orlando drive-through. With blockchain, we can know the history of that Whopper — and should it contain E. Coli, that might be useful to the CDC.