Jared Polis, Colorado governor, said that it is open for the blockchain firms for business. This was said on the event of almost 100 on blockchain Day at the state capitol. It sought to connect and educate legislators, blockchain technology, regulators and the policies of the blockchain.

This was the first event which held on 27th of February to Polis with the community of blockchain. He is not a stranger to the crypto world. He was the first member of Congress to accept Bitcoin donations to his campaigns and is the co-founder of Congressional Blockchain Caucus. Its main aim is to educate the members of the Congress on the blockchain technology.

Colorado’s blockchain ecosystem has been abuzz over the past year: dozens of companies have started in or moved to the state, the Colorado Blockchain Council was formed, and former tech entrepreneur and blockchain supporter Jared Polis was recently elected as governor. With meetup groups organized across Colorado and the world’s largest Ethereum BUIDLATHON, ETHDenver, hosted in The Mile High, the Colorado blockchain ecosystem seems to have many of the right ingredients for success. Along with a strong startup environment, a political ecosystem which is looking at blockchain tech, community support, and many opportunities for open source education, if the right business regulations are put into place for Colorado blockchain, it may just become the best state in the country for Web3 tech development.

John Hickenlooper was the previous Governor who established the Colorado Blockchain Council. Polis praised Hickenlooper for the establishment of blockchain council. He also said that blockchain is a solution for many businesses.

Several partners shared that Colorado’s blockchain industry has been community-focused from the start and has seen incredible growth in a short period of time through collaboration.

Yev Muchnik, founder of ESQ Legal & Launch Legal shared, “Colorado is one of the most inclusive and knowledgeable blockchain communities I have experienced. It has been a true pleasure to join and be an active part of this thriving community.”

Colorado is requesting to explain its position on blockchain and the digital tokens. To support Colorado’s blockchain innovation, Polis conveyed his target on the Cryptocurrency Exemption Colorado Digital Token Act. He also said that the bill is created a common sense exemption to security policies. It is done for the innovative programs for producing the products which should not be label certainties.

The Digital token Act provides some legislatively recognizable definitions of the utility tokens, digital tokens and the policies and suggestions regarding trading. This act also makes the utility coins exempt from the securities registration needs. Polis highlighted the Digital Token Act as the byproduct. It is a cooperative effort which involves the regulators, investors, and lawmakers.

Colorado is the blockchain company which has been raising more than fifty million dollars in the venture capital funding. He is expecting a large number of users will be trading and funding in Colorado.

He believes that the blockchain technology can develop the supply chain, cyber security systems, elections security, and national security technology. For this, he is aiming for more legislation.