In the US, public-private state associations form networks of support for crypto businesses
When you think of a crypto-friendly U.S. state, Washington is hardly the first to come to mind. Yet, a lot has been happening on the ground in the Pacific Northwest lately. Washington Governor Jay Inslee signed a bill, SB5544, into law on March 30. The new legislation creates a working group of seven state officials and eight trade association leaders to examine “various potential applications of and policies for blockchain technology” and report to the governor in December 2023.
Republican state Senator Sharon Brown, one of the sponsors of the legislation, said, “By creating the Washington Blockchain Work Group, we are sending a clear message that Washington is ready to start working with the private sector to advance this technology for the benefit of all Washington residents, employers and workers."
Washington Technology Industry Association, or WTIA, vice president of public policy Molly Jones described the law as an "important and foundational step to growing Washington's blockchain sector." The WTIA was a vocal supporter of the legislation.
So far, Washington has only rarely appeared on the many lists compiled over the years to rank U.S. states by their affiliation with the cryptocurrency industry and blockchain technology. This is despite the considerable efforts of the WTIA, which focuses on blockchain and quantum computing. The WTIA has been active since the 1980s and received a $550,000 state grant to develop innovations in blockchain and quantum computing in the state earlier this year.
The WTIA’s menu of programs includes a nationally active apprenticeship program and a chief information security officers’ peer group. Its accelerator, the Founder Cohort, is in its seventh round. It accepts 20–25 companies at a
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