Ohio Moves to the Forefront Among States Supporting Blockchain-based Businesses

Thursday, October 25, 2018

New law expected to draw companies looking to expand their blockchain and R&D operations to the state

COLUMBUS, Ohio--()--Ohio became a leading supporter of blockchain-based businesses on Friday, Aug. 3, when Governor John Kasich signed legislation enabling new uses for this cutting-edge technology.

Ohio is one of the first states to adopt legislation recognizing the use of blockchain technology to transmit and store electronic records in a broad range of industries, from financial services to supply chain management, real estate and healthcare. Blockchain’s benefits include greater security of information, reduced costs and faster transactions. Cryptocurrencies such as bitcoin are just one way that blockchain technology can be used.

“In Ohio, blockchain innovators can thrive in their efforts to develop new products and applications for the financial industry and beyond,” said Valentina Isakina, Financial Services Managing Director for JobsOhio, the private economic development corporation for Ohio. “Many companies looking to expand their blockchain and R&D operations are rapidly growing job creators, and Ohio is now even more attractive to these businesses.”

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