Digital Identity, DAOs, Private Key Protection, Sim Card Identity Protection, Data Trusts, Division of Banking

BCT-2020-007
Agency: Wyoming Select Committee on Blockchain, Financial Technology and Digital Innovation Technology
Date: December 16-17, 2020
Authors: Christopher Allen

Testimony Links:

At the December 16, and 17, 2020, meeting of the Select Committee on Blockchain, Financial Technology and Digital Innovation Technology:

On the subject of Digital Identity, Christopher commented on the progress of the working group that has been drafting language for this bill. The discussion regarding continued into the afternoon session where Christopher brought up relevance to an additional bill regarding the Protection of Private Keys as the best way to control and prove dominion.
On the subject of Decentralized Autonomous Organizations, Christopher commented on how the current bill addresses Ethereum based blockchains. However, instead of algorithmic based contracts, key-based blockchains such as Bitcoin does not operate smart contracts in the same fashion. This difference should be addressed, as well as any possible future blockchain architechture, in future drafts of the bill.
On the subject of Disclosure of Private Key Protection, Christopher provided public comment expressing support for the draft bill and security by keys.
On the subject of Sim Card Identity Protection, Christopher expressed support for tightening up on telecommunications but opposed the draft bill.
On the subject of Data Trusts, Christopher provided public comment regarding the importance of clear fiduciary responsibility and certification standards.
On the subject of the Division of Banking, Christopher provided public comment regarding clarity of possession and control with respect to digital assets.