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Title: Wyoming’s Blockchain Treasury Push: Stable Token Commission Eyes Major Shift
Wyoming, a state notorious for its pro-crypto stance, has taken a significant step towards transforming the blockchain landscape. The introduction of a stable token commission, aimed at creating a decentralized treasury system, has garnered attention from industry experts and observers alike.
The initiative, spearheaded by Governor Mark Gordon and Senator Cynthia Lummis, marks a bold shift in Wyoming’s approach to cryptocurrency governance. By leveraging a blockchain-based solution, the state aims to establish a secure and transparent system for managing its financial assets.
In an exclusive interview with CoinChapter, Charles Hoskinson, Co-Founder of Cardano (ADA) and CEO of Input Output Global, expressed his support for this endeavor. He believes that Wyoming’s innovative approach could potentially set a new standard for other states.
Wyoming’s Stable Token Commission has selected securitization, custody, and treasury services providers. The chosen firms, Apollo, Securitize, Franklin Advisors, and Northern Trust, will work together to create a decentralized treasury system.
The commission is exploring various options for the token’s design, including the possibility of offering yields to investors. This feature would allow holders to earn interest on their tokens, a practice common in traditional treasuries.
In response to criticism regarding transparency and potential bias during the selection process, Apollo assured that all legal guidelines were followed throughout the evaluation.
Hoskinson emphasized his support for Wyoming’s efforts and highlighted the importance of transparency in the blockchain space.
Source: coinchapter.com
