Testimonial for SB 5544 & SB 5534

​Two bills were run by the Cascadia Blockchain Council this session -- SB 5544 the creation of a blockchain work group and SB 5534 the trust framework for verifiable credentials -- are up for a public hearing tomorrow, Wednesday, January 12. 

1. SB 5544 creates a working group to examine applications of blockchain technology across key sectors and government bodies with the goal of promoting blockchain development in the state of Washington. It is a foundational policy step that will provide a solid base upon which to build additional blockchain policies. 

2. SB 5534 examines opportunities for use of verifiable credentials in state government agencies, and also calls for the creation of a Trust Framework for Verifiable Credentials.

Both bills, sponsored by (the awesome) Senator Sharon Brown (pictured below).

Several of us, from the WTIA or Cascadia Blockchain Council, did our remote zoom testimonials this morning, including myself (with new 1 month old baby in my arms).

Here's the link to the recorded hearing: https://tvw.org/video/senate-environment-energy-technology-committee-2022011201/?eventID=2022011201 (Time stamp for the blockchain bills is 44:35).

Below is my testimonial for the Blockchain Working Group Bill:

 Introduction: 

• Thank you, Chair and members of the committee. 

• For the record, my name is Arry Yu, and I am the Co-founder and Chair of the Cascadia Blockchain Council. 
• We are a coalition of over 150 companies, universities, and government entities across Oregon, Washington, and British Columbia focused on making the Cascadia region a global hub for blockchain technology. 
• I have over 20 years’ experience in the innovation technology space for companies like Microsoft, Expedia and Google --- and since 2016, have been working specifically in the blockchain/cryptocurrency technology space in areas like Gaming/ + micropayments (8/10ths of a penny) in over 120 countries – who has seen firsthand this community grow across the country and globe. 
• I am here today to testify in support of SB 5544. 

Body:

• Creation of uniform policy around blockchain is an important step to support the sector in Washington state.
• The results of this work group will further cement Washington state and our region as a global leader on blockchain technology. Not Switzerland, or Miami –  it should be our region – this is the center for platform technologies, cloud technologies, Oregon is the birth place for open source. This region has the developer + engineering talent, not to mention the mountains, ocean, evergreen trees, and wholesome hearted community….  
• Increasing opportunities for growth of the blockchain sector in Washington state is a core mission of the Cascadia Blockchain Council, and we hope to see this legislation advance

Conclusion: 

• Thank you for the opportunity to testify. Thank you Senator Brown for your continued support year after year. I am happy to answer any questions. 

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Below is my testimonial for the Verifiable Credentials Bill:

Introduction: 

• Thank you, Chair and members of the committee. 
• For the record, my name is Arry Yu, and I am the Chair of the Cascadia Blockchain Council. 
• We are a coalition of over 150 companies, universities, and government entities across Oregon, Washington, and British Columbia focused on making the Cascadia region a global hub for blockchain technology. 
• I have over 20 years’ experience working in the innovation technology space, digital trust research and on verifiable credentials.  
• I am here today to testify in support of SB 5534.

Body: 

• Lumedic is a great example of a startup company working with the Providence Health Network advancing verifiable credentials for health care // Give Arry personal example.
• A Trust Framework is a set of governing standards for the using or providing of digital identity services. The goal of a trust framework is to not to require the use of one centralized digital ID, but to acknowledge that we need a streamlined and privacy preserving way of handing digital ID as it becomes increasingly used across public and private institutions. 
• A Trust Framework can enable more efficiency between the public and private sector by establishing a single set of standards to build identity to, while reducing privacy and fraud concerns that accompany digital ID. 
• VC is a decentralized identifier – that is privacy preserving, portable, secure and interoperable. 
• Major innovation is that no 3rd party stores sensitive info + no private information is on the blockchain.
• Ledger shows proof/ attestation – that a verified issue has sent a credential to a recipient.] 
• It is important to lay the groundwork, via a trust framework, for use of verifiable credentials in Washington state use of this technology in the state in the future. Ultimately, the use cases created need to be built to a standard recognized by both public and private sectors.

Conclusion: 

• Thank you for the opportunity to testify. I am happy to answer any questions.