ENROLLED
2021 Regular Session
HOUSE RESOLUTION NO. 213
BY REPRESENTATIVE WRIGHT
A RESOLUTION
To direct the House Committee on Commerce, or a subcommittee thereof, to study the
current use and potential opportunities for utilization of blockchain technology and
cryptocurrency in the state, and to report findings to the House of Representatives
prior to the convening of the 2022 Regular Session of the Legislature of Louisiana.
WHEREAS, blockchain technology, a digital database, was first outlined by
researchers Stuart Haber and W. Scott Stornetta in 1991 who wanted to create a system
where document timestamps could not be manipulated; and
WHEREAS, blockchain technology, which is primarily used to store cryptocurrency
transaction history, works by storing information in groups called blocks and completed
blocks are chained to previously filled blocks to form an irreversible timeline of data; and
WHEREAS, Bitcoin, a well-known type of cryptocurrency, was first proposed in
2008 by the pseudonymous author Satoshi Nakamoto; and
WHEREAS, blockchain technology's first real-world application came in January of
2009 when Bitcoin launched; and
WHEREAS, Bitcoin is a completely decentralized digital asset, which means it
utilizes a peer-to-peer, open source, automated digital asset trading platform where the
parties deal directly with each other and without the need of a third party as opposed to a
centralized exchange, which provides the parties with a trading platform and utilizes a third
party; and
WHEREAS, Bitcoin, following its introduction in 2009, began using a Proof of Work
system, which allows for secure, decentralized consensus and allows Bitcoin and other
cryptocurrencies to utilize peer-to-peer transactions in a secure manner without the need for
a trusted third party; and
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WHEREAS, cryptocurrency, which is built on a blockchain that stores every
transaction ever made, has its blockchain decentralized by storing it on thousands of
computers that are located and operated in different geographic locations by separate
individuals or groups of people; and
WHEREAS, cryptocurrency uses blockchain to transparently record a ledger of
payments, but decentralized blockchains are immutable and can be used to store any number
of data points in a way that is unalterable; and
WHEREAS, some proposed uses of blockchain are to record transactions, election
votes, product inventories, state identifications, and deeds to homes; and
WHEREAS, Arizona, Texas, Utah, Wyoming, and other states have passed laws or
developed programs relative to cryptocurrency and blockchain; and
WHEREAS, Louisiana has existing businesses and investors that want regulatory
clarity; and
WHEREAS, Louisiana could utilize blockchain technology for the betterment of the
state.
THEREFORE, BE IT RESOLVED that the House of Representatives of the
Legislature of Louisiana does hereby direct the House Committee on Commerce, or a
subcommittee thereof, to study the current use and potential opportunities for utilization of
blockchain technology and cryptocurrency in the state, and to report findings to the House
of Representatives prior to the convening of the 2022 Regular Session of the Legislature of
Louisiana.
BE IT FURTHER RESOLVED that the House of Representatives further requests
that such study include consideration of input from the Office of the State Treasurer,
Louisiana Economic Development, the Office of Financial Institutions, and any other
persons or organizations the committee or subcommittee deems appropriate.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
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