California Hires Crypto Execs to Reform Government
California has launched the California Breakthrough Project, a new task force with a mission to make government more efficient—this time with the help of blockchain business leaders.
Ripple, Coinbase, MoonPay, and other crypto companies have assigned staff to the project, which kicked off its first meeting on June 6 at Ripple’s San Francisco office.
The group will advise state officials on the most effective means of increasing coordination, openness, and efficiency of government functions, journalist Eleanor Terrett says.
Newsom Taps into Tech for Transparency Advantages
California Governor Gavin Newsom lent his seal of approval to the project and praised the state blockchain community. Although the release was not explicit regarding how blockchain will be applied, the state’s embrace of crypto technology is evident.
Alone, California hosts nearly 25% of all North American blockchain companies, according to the state’s Web3 report. That’s what officials have called “an opportunity” to adopt forward-thinking technology in public services.
Blockchain’s Broader Regulatory Landscape
The action comes on the heels of policy on digital assets gaining momentum in Washington. California’s entreaty to crypto chiefs comes as the House debates a series of big bills during US Crypto Week.
Among them are the Anti-CBDC Surveillance State Act, the Digital Asset Market Clarity (CLARITY) Act, and the GENIUS Act, which would create a stablecoin framework.
A New Public-Private Partnership Model?
Although details of the Breakthrough Project are still to be ironed out, its launch may set a model for other states interested in applying blockchain for the common good.
By hiring crypto-native businesses like Coinbase and Ripple, California is showing an enthusiasm for innovation—if only it can balance efficiency and regulation.
