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Blockchain

Texas urged to become hub for cryptocurrency and other blockchain tech

admin December 7, 2022

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, 2022-12-07 11:45:34,

While many people still lack a true grasp of the emerging technology known as blockchain, Texas is positioning itself to help foster the small industry that’s growing up around it.

Blockchain is a part of emerging technology related to Web3, or what some technologists consider the next iteration of the internet. A blockchain is a form of distributed database that stores data in chronological groups called blocks. Individual blocks can be added to the chains, but they can’t be edited or removed. One of blockchain’s best-known uses is its role in cryptocurrency.

Now, a group of industry leaders working to help Texas become a center of activity for blockchain and related technologies, including cryptocurrency, has come out with its first set of recommendations for the state.

The group — called the Texas Workgroup on Blockchain Matters and comprised of about a dozen members from state agencies, Texas universities and the blockchain industry — outlined more than 20 measures aimed at strengthening the growing blockchain industry here.

More:What is an NFT, anyway? Your guide to SXSW’s high-tech jargon

Christopher Calicott, managing director of Trammell Venture Partners, an Austin-based early-stage venture capital firm, is part of the group, which was established during the 2021 session of the state Legislature to help Texas take a strategic approach to the industry.

Calicott said the group’s recent report containing its recommendations should help clarify to policymakers how…

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