Colorado Senate bill proposes use of Blockchain for data security

Colorado could start using blockchain to secure private data from cyber attack if a new bill recently introduced is passed.

Senate Bill 086 commence on Jan 16 and will eliminate paperwork and offer strict security to Colorado agencies’ data. Additionally, a blockchain system would also solve data collection and retention issues currently in the order. It could also help avoid citizens to visit state agencies in person to modify personal information.

Reads the bill in part,

“Blockchain distributed ledgers provide the capability of openly traceable transactions while maintaining the privacy of each person performing the transactions”.

Blockchain secures data through encryption using cryptography, which is hard to break with the current technology. Many companies utilizing blockchain also use it for distributed data storage. Decentralized or distributed storage also reduces exposure of data and information to breaches. Thus, it is comparing to the centralized database used by many governments.

Also Read: Ethereum processes nearly half of all blockchain transactions, higher than 6 blockchain networks combined

If passed, Colorado’s chief information security officer will need to evaluate benefits and costs of using distributed ledgers in various systems run by the government. He would also determine the capability of the technology to handle cyber attacks and compare it with traditional computer systems.

Many of the records by the government are not safe thus exposing it to identity thieves and hackers with the intent to steal or penetrate corporate records. The bill also comes at a time when Colorado state government’s systems reported between six and eight million attempted data breaches per day on its digital platforms.

Further, the bill on to note that there is more number of threats to steal personal information. As most of the records are not secure by the government and therefore are “valuable targets for identity thieves and hackers with the intent to steal.”

Additionally, the bill highlights that Colorado still requires citizens to visit state agencies in person. Thus to modify their information and all that can be solving by a blockchain system.

Read Next: Comcast Ventures is speculating on blockchain technologies



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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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