Quantstamp VP of Strategy Olga V. Mack Facilitates Passage of Blockchain Bills
On September 28, 2018, Governor Jerry Brown signed two blockchain bills into law, AB 2658 by Assemblymember Ian Calderon and SB 838 by Senator Robert Hertzberg. Quantstamp Vice President of Strategy Olga V. Mack, in collaboration with the Blockchain Advocacy Coalition, educated California legislators to facilitate the passage of these bills.
“I believe that the blockchain industry should make collaborating with our government officials a high priority,” says Olga V. Mack. “Only through effective education and engagement can we expect government officials to make informed decisions that allow blockchain technology to reach its full potential, help all businesses thrive and provide California citizens with access to a new, safe and innovative technology.”
AB 2658 establishes a working group in the California legislature whose goal is to better understand the risks, benefits and legal implications of blockchain technology. This working group will include members from the technology industry along with privacy and consumer organizations. SB 838 authorizes certain corporations to issue, transfer and maintain records of stocks using blockchain technology. Both AB 2658 and SB 838 recognize and define blockchain, which is an exciting first step toward adoption of this technology.
“The Blockchain Advocacy Coalition’s efforts were led by members like Olga V. Mack, Vice President of Strategy at Quantstamp, who met with a half dozen legislative officers to answer questions about blockchain technology and sent letters of support on behalf of both bills to Governor Brown,” said Ally Medina, Executive Director of the Blockchain Advocacy Coalition. “Industry engagement with policymakers is what helped these bills become law.”
Quantstamp is a smart contract security company that conducts manual audits and is developing the Quantstamp protocol and automated security tools. The Quantstamp protocol enhances smart contract security and the reputation of projects that create smart contracts by producing publicly verifiable audit reports. The betanet version of the Quantstamp protocol was recently released on the Ethereum mainnet.
About the Blockchain Advocacy Coalition
Established in 2018, the Blockchain Advocacy Coalition (BAC) is a group of business and consumers working to support clear, common-sense blockchain policy in California and across the United States. In California, BAC members have testified at a half dozen committee hearings and met with 32 legislative offices during a blockchain education day in Sacramento. The organization connects industry experts with legislators and participates in direct advocacy with elected officials.