Wyoming Blockchain Coalition Announces Support for Blockchain in Wyoming

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Wyoming Blockchain Coalition, LLC announces its formation as an interest group advocating the adoption of blockchain technology in Wyoming, as well as the list of initial members of its advisory board.

“The mission of the Wyoming Blockchain Coalition is to educate Wyoming citizens about the power of blockchain technology to cut costs, streamline administrative processes and spur entirely new businesses in Wyoming,” said David A. Pope, CPA CGMA executive director of the Wyoming Blockchain Coalition. “We are also advocates for a legal and regulatory environment that welcomes blockchain technology companies to do business in Wyoming, ranging from deploying the technology within the State to enabling service providers -- such as exchanges and money transmitters -- to serve Wyoming customers.”

“Wyoming has nearly a perfect combination of attributes to attract blockchain start-ups -- favorable LLC and corporate laws, privacy protections, zero corporate income or franchise taxes, strong academic support from UW and tremendous bandwidth available to companies locating in the Cheyenne area. Wyoming passed the nation’s first LLC law 30 years ago, and it can again lead the way by offering blockchain LLCs,” said Caitlin Long, advisory board member, Laramie native and chairman and president of Symbiont, a leading blockchain technology platform. “When I tried to donate bitcoin to fund a new endowment at UW, I ran into a brick wall because Wyoming’s banking laws prevent bitcoin exchanges from doing business in Wyoming. I’d like to help fix that.”

Blockchain is a new form of database technology that enables multiple parties to share a single “golden copy” of data and trust that it is valid, owing to a breakthrough of computer science that enables the computers of multiple users or organizations to reach consensus about the state of their shared data without the need to reconcile their own copies. It is gaining adoption by users big and small to save costs, streamline administration and improve transparency and auditability.

Potential applications in Wyoming utilizing blockchain may include:

  • Allowing Wyoming LLC registrants to register on a blockchain. Wyoming led the way when it passed the nation’s first LLC law in 1977, and it can again lead by offering the ability to register LLCs on a blockchain. This could attract meaningful business into Wyoming, as today 2/3 of new companies that register in the U.S. are LLCs -- and new users of LLCs (such as for autonomous cars and other Internet of Things (IoT) devices) could be attracted to efficiencies enabled by blockchain-registered Wyoming LLCs
  • Ranchers and coal producers, for example, guaranteeing their customers certified Wyoming products by allowing them to track their Wyoming origin on a blockchain
  • Reducing Wyoming’s healthcare costs by eliminating information duplication via a blockchain
  • Creating a registry of mineral rights and leases and a tracking system for royalty and severance payments on a blockchain
  • Tracking government documents and automating compliance with public-records retention laws using a blockchain
  • Improving the transparency of Wyoming campaign finance by using a blockchain
  • Other industries positively impacted by adoption of blockchain technology include Accounting, Financial Services, Legal Services, Land Title, Licensing and Permits, among others

Below is the initial list of advisors to the Wyoming Blockchain Coalition. We anticipate adding members as interest in the technology grows and we welcome your interest in joining.

           
Ben Blalock President & CEO University of Wyoming Foundation
Mike Borowczak, PhD

Director, Cybersecurity Education Research Center & Lab

University of Wyoming
Randy Bruns CEO Cheyenne LEADS
Patrick M. Byrne, PhD CEO Overstock.com
James Caldwell, PhD Head, Dept of Computer Science University of Wyoming
David Chicoine, PhD Interim Dean, College of Business University of Wyoming
Greg Dyekman Senior Partner Dray, Dyekman, Reed & Healey P.C.
Gale Geringer Consultant Gale Geringer LLC
Hon. Jim Geringer Director Esri and former Wyoming Governor
Rob Jennings President RWJ Consulting, LLC
Erin Johnson Owner Erin Johnson Consulting
Jonathan Johnson President Medici Ventures
Toni Marie Kopack Manager DAPCPA Pope & Jackson, Inc.
Kristin Lee
Caitlin Long Chairman & President Symbiont, past UW Foundation Board
Richard McGinity, DBA

Professor Emeritus/Professor of Management

University of Wyoming
Cameron Nazminia

Former Policy Advisor to Wyoming Governor Matt Mead

Marian Orr Mayor City of Cheyenne
Michael Pishko, PhD

Dean, College of Engineering & Applied Science

University of Wyoming
Jeff Pope Attorney at Law Holland and Hart
David A. Pope, CPA CGMA CEO and Founder DAPCPA Pope & Jackson, Inc.
Craig Russow Major Gift Officer University of Wyoming Foundation
Rich Slater Attorney at Law Richard Slater Law Practice
Mark Smith CEO and Co-Founder Symbiont
Isaac Sutphin Partner Holland and Hart
 

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Business Wire: 16:55 GMT Tuesday 14th November 2017

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