New York bill proposes blockchain study for election record security
Blockchain may soon earn itself a role in New York State’s voting processes and procedures.New York Assemblymember Clyde Vanel introduced Bill A07716 on April 8, directing the state Board of Elections to evaluate how blo...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Blockchain may soon earn itself a role in New York State’s voting processes and procedures.
New York Assemblymember Clyde Vanel introduced Bill A07716 on April 8, directing the state Board of Elections to evaluate how blockchain could help protect voter records and election results. The legislation is currently under consideration by the Assembly Election Law Committee.
According to the bill’s summary, the goal is to “study and evaluate the use of blockchain technology to protect voter records and election results.“
The bill mandates that the Board of Elections produce a report within one year assessing the potential benefits of blockchain in securing election data. The study must include input from experts in blockchain, cybersecurity, voter fraud and election recordkeeping.
Bill text. Source: New York State Assembly
Related: Ripple announces money transmitter licenses in Texas and New York
Blockchain applications in electionsThis is not the first initiative attempting to bring the tamper-proof features of blockchain technology to the voting process. In early March, the Bitcoin network was used to secure and store the results of the Williamson County, Tennessee, Republican Party Convention’s election to determine the leadership and board of the local party chapter.
About a year ago, Brian Rose — an independent mayoral candidate in London — told Cointelegraph that blockchain-based voting systems could foster more transparency and public trust in the election process:
“Wouldn’t we all sleep better at night if the voting system was on the blockchain and you could really prove that identity and you could actually prove that vote and there would be an immutable record? This is the future and I think it takes someone like me who comes from a business background who’s intimately involved in the blockchain.”Still, experts caution that blockchain systems are only as reliable as the data input into them, a concept often summarized as “garbage in, garbage out.” While blockchain offers tamper-resistant storage, it does not guarantee the integrity of the original data submission.
Related: Election tally: Does blockchain beat the ballot box?
A crypto-conscious assemblymemberVanel is no stranger to blockchain-related initiatives, having introduced a bill in early March that would establish criminal penalties to prevent cryptocurrency fraud and protect investors from rug pulls. In January, he also stated that New York became the first US state to create a cryptocurrency task force to study the regulation, use and definition of digital currency.
He has also been a vocal commenter on the industry and its relationship with policymakers. In May 2019, Vanel said that the blockchain industry needs to be better at lobbying for itself and educating regulators.
Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame
Why this matters
This security story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CointelegraphRelated market context
U.S. Government Sends $1 Billion in Seized Bitfinex Bitcoin to Unlabeled Wallets
A wallet holding bitcoin stolen in the 2016 Bitfinex hack sent 12,267 BTC, worth about $1.01 billion, to new addresses on Thursday...
Why XRP’s 63 billion circulating tokens don’t tell buyers what’s for sale
For XRP buyers, available supply depends on the price they are willing to pay. The token's roughly 63.09 billion circulating suppl...
New York Permanently Bars Ex-Celsius CEO Mashinsky From Crypto and Securities Industries
New York Attorney General Letitia James announced on Friday a settlement with Alex Mashinsky, a co-founder and former CEO of crypt...
XRPL’s $1.34 billion stablecoin base doesn’t tell us how much XRP users need
Tracked stablecoins on the XRP Ledger totaled $1.338 billion on Oct. 7. For XRP holders, the critical question is how much activit...
Bitcoin crashes through $81,000 buy wall as $1 billion crypto liquidation bloodbath unfolds
Bitcoin registered an intraday low near $80,000 as a cryptocurrency selloff triggered over $1 billion in liquidations, overwhelmin...
Coinbase opens full trading for DATA-USD and WHUF-USD pairs
Coinbase's expansion of trading pairs enhances market liquidity and accessibility, potentially driving increased adoption and inno...