HLS 21RS-3854 ORIGINAL
2021 Regular Session
HOUSE RESOLUTION NO. 213
BY REPRESENTATIVE WRIGHT
COMMERCE: Directs the House Committee on Commerce, or a subcommittee thereof, to
study the potential role of blockchain technology in the state
1 A RESOLUTION
2To direct the House Commerce Committee, or a subcommittee thereof, to study the current
3 use and potential opportunities for utilization of blockchain technology and
4 cryptocurrency in the state, and to report findings to the House of Representatives
5 prior to the convening of the 2022 Regular Session of the Legislature of Louisiana.
6 WHEREAS, blockchain technology, a digital database, was first outlined by
7researchers Stuart Haber and W. Scott Stornetta in 1991 who wanted to create a system
8where document timestamps could not be manipulated; and
9 WHEREAS, blockchain technology, which is primarily used to store cryptocurrency
10transaction history, works by storing information in groups called blocks and completed
11blocks are chained to previously filled blocks to form an irreversible timeline of data; and
12 WHEREAS, Bitcoin, a well-known type of cryptocurrency, was first proposed in
132008 by the pseudonymous author Satoshi Nakamoto; and
14 WHEREAS, blockchain technology's first real-world application came in January of
152009 when Bitcoin launched; and
16 WHEREAS, Bitcoin is a completely decentralized digital asset, which means it
17utilizes a peer-to-peer, open source, automated digital asset trading platform where the
18parties deal directly with each other and without the need of a third party as opposed to a
19centralized exchange, which provides the parties with a trading platform and utilizes a third
20party; and
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HR NO. 213
1 WHEREAS, Bitcoin, following its introduction in 2009, began using a Proof of Work
2system, which allows for secure, decentralized consensus and allows Bitcoin and other
3cryptocurrencies to utilize peer-to-peer transactions in a secure manner without the need for
4a trusted third party; and
5 WHEREAS, cryptocurrency, which is built on a blockchain that stores every
6transaction ever made, has its blockchain decentralized by storing it on thousands of
7computers that are located and operated in different geographic locations by separate
8individuals or groups of people; and
9 WHEREAS, cryptocurrency uses blockchain to transparently record a ledger of
10payments, but decentralized blockchains are immutable and can be used to store any number
11of data points in a way that is unalterable; and
12 WHEREAS, some proposed uses of blockchain are to record transactions, election
13votes, product inventories, state identifications, and deeds to homes; and
14 WHEREAS, Arizona, Texas, Utah, Wyoming, and other states have passed laws or
15developed programs relative to cryptocurrency and blockchain; and
16 WHEREAS, Louisiana has existing businesses and investors that want regulatory
17clarity; and
18 WHEREAS, Louisiana could utilize blockchain technology for the betterment of the
19state.
20 THEREFORE, BE IT RESOLVED that the House of Representatives of the
21Legislature of Louisiana does hereby direct the House Commerce Committee, or a
22subcommittee thereof, to study the current use and potential opportunities for utilization of
23blockchain technology and cryptocurrency in the state, and to report findings to the House
24of Representatives prior to the convening of the 2022 Regular Session of the Legislature of
25Louisiana.
26 BE IT FURTHER RESOLVED that the House of Representatives further requests
27that such study include consideration of input from the Office of the State Treasurer,
28Louisiana Economic Development, the Office of Financial Institutions, and any other
29persons or organizations the committee or subcommittee deems appropriate.
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HR NO. 213
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HR 213 Original 2021 Regular Session Wright
Directs the House Commerce Committee, or a subcommittee thereof, to study the current
and potential use of blockchain technology and cryptocurrency in the state.
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