H.B. 622 Summary

• Establishes a blockchain working group within the Hawaii Technology Development Corporation to develop a recommended definition for blockchain technology and provide recommendations for its use by individuals, businesses, and state agencies.

• Requires the working group to be chaired by the board chairperson of the Hawaii Technology Development Corporation and include representatives from state agencies, technology companies, blockchain experts, academic institutions, nonprofits, and rural and urban stakeholders.

• Working group must convene no later than 90 days after the act's effective date and submit findings and recommendations to the legislature no later than 30 days before the 2022 regular legislative session, including a blockchain definition, use opportunities, and proposed legislation.

• Working group ceases to exist on June 30, 2022.

• Appropriates funds from general revenues for fiscal year 2021-2022 to support the blockchain working group's operations.