A group of Illinois lawmakers will exploring the potential benefits to the state in using “blockchain” technology developed for cybercurrency.
The value of the digital currency Bitcoin has been volatile during its existence so far, but its blockchain backbone could have other uses for the state. Blockchains are encrypted ledgers of transactions that can be shared.
State Rep. Mike Zalewski, D-Riverside, will chair a new cryptocurrency subcommittee.
"Regardless of how much Bitcoin is selling for, we can really use the technology that Bitcoin has provided to make government more efficient,” Zalewski said.
Zalewski said that could include sharing real estate and healthcare information more easily and securely.
“It would be great if people could control their own health records and not having to worry about documents going from Point A to Point B," he said. "If everyone just had access, you could give clearance to who looked at your health records online in a very safe and secure way.”
Zalewski says the subcommittee will develop some proposals in the next few months to present to the General Assembly.