California mayor, Gavin Newsom, recently spoke about blockchain during his State of the State Speech. Gavin expressed his desire to help progress blockchain technology with hopes to create more jobs.
In his speech, Newsom said:
“CALIFORNIA NEEDS A COMPREHENSIVE STATEWIDE STRATEGY TO UPLIFT AND UPSKILL OUR WORKERS, TO ENSURE TECHNOLOGICAL ADVANCEMENTS IN AI, BLOCKCHAIN, BIG DATA, ARE CREATING JOBS, NOT DESTROYING THEM, AND TO REFORM OUR INSTITUTIONS SO THAT MORE WORKERS HAVE AN OWNERSHIP STAKE IN THEIR SWEAT EQUITY.”
The speech aired on Tuesday this week offers more investment and focus on blockchain technology from the state government, something that has not achieved much success in California despite the position of the state as a global tech hub. Silicon Valley, the center of innovation and innovation in the IT sector, is in this state but will need more support from the government before becoming one of the top blockchain promoting areas in the world.
Governor Newsom himself is one of the most progressive leaders at the state level when it comes to cryptocurrencies and blockchain as he started accepting Bitcoin donations as early as 2014. But, at the same time, Newsom has proactive positions on the protection of big data and consumer privacy and giving workers ownership stakes in companies. While these positions aren’t exactly anti-crypto, they do present several challenges to the blockchain sector that need to be overcome.
Gavin did lay out some plans to advance blockchain technology, but he also mentioned that SEC’s indecisiveness and other issues out of his control will also affect the performance of this sector which isn’t in his control.
Regardless, this is still a big stepping stone for California and the blockchain market.
A little more on Gavin Newsom
Gavin Christopher Newsom is an American politician and businessman. He is the 40th and current governor of California, since 2019. A member of the Democratic Party, he previously served as the 49th lieutenant governor of California from 2011 to 2019 and as the 42nd mayor of San Francisco from 2004 to 2011.
Newsom’s first political experience came when he volunteered for Willie Brown’s successful campaign for mayor in 1995. Newsom hosted a private fundraiser at his PlumpJack Café. In 1996, Brown appointed Newsom to a vacant seat on the Parking and Traffic Commission, and he was later elected president of the commission. In 1997, Brown appointed him to the San Francisco Board of Supervisors seat vacated by Kevin Shelley. At the time, he became the youngest member of San Francisco’s board of supervisors and also, like Shelley before him, the board’s only white heterosexual male.