The Illinois Blockchain Initiative, part of the Illinois Department of Financial and Professional Regulation, recently started looking into the potential use cases of blockchain technology.
If the state can implement the technology successfully, it could save both customers and businesses time and money that would otherwise be spent on record keeping.
It could also make regulatory compliance easier to manage as there would be a permanent digital ledger of every transaction that occurred in the blockchain. The fact that it will save money makes this initiative exciting, but its potential to help improve security and efficiency are what makes it truly groundbreaking.
What is Blockchain in Illinois?
Does blockchain work in Illinois?
How will it affect business?
How do I get involved?
The Illinois Blockchain Initiative is a public-private partnership that is driving blockchain innovation in the state of Illinois.
The initiative is supported by the State of Illinois, the Chicago Mercantile Exchange Group (CME Group), and major corporations such as Microsoft, IBM, and Accenture.
If you are interested in getting involved with the initiative, there are a few ways to do so.
Who can participate in this initiative?
The Illinois Blockchain Initiative is a public-private partnership that is open to businesses, startups, academic institutions, and state and local government entities.
The goal of the initiative is to create a sandbox for testing and developing blockchain applications.