THINK TANK #7: NY Blockchain Laws & Cryptocurrency Task Force Proposed by AM Clyde Vanel and Bipartisan Legislators

Goal of this Think Tank

“We can’t be too quick to regulate (blockchain), we need to understand it first. New York State remains the financial capital of the world. We must, as lawmakers, be sure that we foster an environment for cutting-edge [technology] and innovation, while providing safe and responsible investment opportunities." -- Assemblyman Clyde Vanel 

IBM recently published the results of new research (Building trust in government: Exploring the potential of blockchains) on how governments (international and state-wide in the US) are considering blockchain technologies. The study "revealed a group of government organizations that are embracing blockchain technology to reduce frictions to innovation and information and facilitate more extensive collaboration" and 96 percent of blockchain-savvy government executives say they plan to use blockchain for financial transaction management by 2018. The U.S. Postal Service and the Department of Homeland Security were highlighted for their impressive research on blockchain technologies.

The report named 14 “trailblazer” governments leading in blockchain innovation. The United States was not on the list.

On November 27, 2017, Assemblyman Clyde Vanel (33rd Assembly district of Queens, NY who is also an attorney and tech entrepreneur) introduced four bills. Three bills propose exploring blockchain technology and the effects it would have on securing voting records, election results and government record storage. The fourth bill proposes the creation of a cryptocurrency/blockchain task force to analyze the impact of cryptocurrencies on New York financial markets.

JOIN US as our special guest, Assemblyman Vanel, steps into the Think Tank to present this crucial legislation and its potential impact on government, business and financial markets in New York State. As always, our Think Tank events are interactive and meant to be an exchange of ideas between attendees and our speakers in a problem-solving format. Everyone gets an opportunity to express ideas and ask questions about this hot topic affecting us all!

Proposed Blockchain Legislation

Assemblyman Vanel enlisted a bi-partisan group of legislators to co-sponsor the 4 bills he has introduced, including Rep. Edward P. Ra (R-Nassau County), Rep. Luis R. Sepúlveda (D-Bronx); and Rep. Ron Kim (D-Whitestone). If these bills pass, New York will join a short but growing list of states moving swiftly to enact blockchain legislation  including Arizona, Vermont, Illinois, North Dakota, Hawaii, California, and Delaware.

BILL #8780:  Relates to allowing signatures, records and contracts secured through blockchain technology to be considered in an electronic form and to be an electronic record and signature; allows smart contracts to exist in commerce. (read more)

BILL #8783:  Creates the digital currency task force to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state. (read more)

BILL #8792:  Directs the state board of elections to study and evaluate the use of blockchain technology to protect voter records and election results. (read more)

BILL #8793:  Relates to establishing a task force to study and report on the potential implementation of blockchain technology in state record keeping, information storage, and service delivery. (read more)

Event Agenda: 

The Think Tank will start promptly at 6:15pm. We do not allow any recording of the Think Tank except by our staff. Light food and beverages will be served.

  • 6PM - 6:15PM: sign in, networking, light food and drinks served
  • 6:15PM - 6:25PM: announcements, topic and speaker introduction
  • 6:25PM - 7:00PM: Assemblyman Vanel's presentation
  • 7PM - 7:20PM: Interactive, problem-solving Think Tank
  • 7:20PM - 7:35PM: Informal presentations and Assemblyman Vanel's feedback
  • 7:35PM - 7:45PM:  Q&A with Assemblyman Vanel
  • 7:45PM - 8PM: More mingling and then it's a wrap!

Assemblyman Clyde Vanel

Assembly member Clyde Vanel was elected to the New York State Assembly on November 8, 2016. He serves the 33rd Assembly district of Queens, New York, encompassing the neighborhoods of Cambria Heights, St. Albans, Hollis, Queens Village, Bellerose and parts of Floral Park.

Clyde Vanel is an attorney, entrepreneur, private pilot and community advocate from Cambria Heights, New York. He previously served as the Chief of Staff for New York State Senator James Sanders Jr. Clyde Vanel is the owner and operator of Vanel Law Firm, P.C. where he focuses on intellectual property law, business law and wills and estate planning. Clyde is also an Internet entrepreneur. He is the owner and operator of TrademarkReady.com which provides trademark filing and protection services. Additionally, Clyde was the owner and operator of Vanel on First; a restaurant, bar and lounge in lower Manhattan for five years.

Clyde is the founder of the New York Metro chapter of the Black Pilots of America, Inc. The organization trains and exposes the community and youth to the field of aviation. Through the organization, many youth and community members have been trained in pre-flight of an aircraft and aviation-related trainings.

Assembly member Vanel has worked extensively in political community empowerment. He has helped many community members become involved with and informed the community regarding elections and political matters. Clyde has mentored young men with Eagle Academy in the Bronx and in Queens and the Young Men's Rites of Passage with the Allen A.M.E Church in Jamaica, Queens.

He holds a Juris Doctor from Boston University School of Law, where he served as the Editor-in-Chief of the Journal of Science & Technology Law. He holds a Bachelor of Science in Aviation Administration and an Associate of Applied Science in Aerospace Technology from Farmingdale State College, where he served as the Student Government President.

Clyde Vanel was raised in Cambria Heights, New York, with nine siblings. He is a member of Kappa Alpha Psi Fraternity, Inc.

Follow him on Twitter: @clydevanel  /  LinkedIn: http://bit.ly/2CdDdcN  /  Facebook: facebook.com/clyde.vanel

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Start Time

6:00 pm

Wednesday, January 31, 2018

Finish Time

8:00 pm

Wednesday, January 31, 2018

Address

Galvanize, 315 Hudson Street, 2nd Floor, NY, NY 100

Event Participants