{"id":2758,"date":"2023-02-02T10:00:00","date_gmt":"2023-02-02T15:00:00","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2758"},"modified":"2024-04-25T23:18:10","modified_gmt":"2024-04-26T03:18:10","slug":"new-hampshire-and-texas-both-looking-at-blockchain-for-deeds","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/","title":{"rendered":"New Hampshire and Texas: Both Looking at Blockchain for Deeds?"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"299\" src=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1024x299.jpg\" alt=\"\" class=\"wp-image-2759\" srcset=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1024x299.jpg 1024w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-300x88.jpg 300w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-768x224.jpg 768w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1536x448.jpg 1536w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-2048x597.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Governor Chris Sununu intends to make New Hampshire \u201ca leading jurisdiction for the development of sound and effective applications of blockchain technologies.\u201d This comes on top of a new report from the Governor\u2019s Commission on Cryptocurrencies and Digital Assets, which says <a href=\"https:\/\/www.deeds.com\/articles\/the-path-ahead-for-blockchain-web-3-0-and-crypto-real-estate\/\">blockchain<\/a> offers improved methods for recording real estate deeds and other title documents.<\/p>\n\n\n\n<p>Change is coming. New Hampshire in 2023 is following a very similar path to one laid out by Texas last year. Let\u2019s take a look.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">New Hampshire Should Play a \u201cLeading Role,\u201d Report Says<\/h2>\n\n\n\n<p>Yes, change is coming, but not overnight. Record systems are crucial components of well-functioning governments and businesses. Any suggested changes must win the support of the offices affected.<\/p>\n\n\n\n<p>Why should agencies buy in? The governor\u2019s commission deems blockchain an \u201cimportant technological innovation.\u201d Agency support will enable New Hampshire to play a \u201cleading role\u201d in encouraging its development.<\/p>\n\n\n\n<p>The New Hampshire commission views blockchain as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>An important innovation that could make government and commerce more efficient and effective.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A fraud-resistant technology, useful to shield documents and data from manipulation.<\/li>\n<\/ul>\n\n\n\n<p>So, what happens next?<\/p>\n\n\n\n<p>Watch for New Hampshire agencies to begin trying out their own blockchain ideas.<\/p>\n\n\n\n<p>And watch for a special state task force to explore blockchain\u2019s potential for governmment use. This will include filing, recording, and storage systems in county offices.<\/p>\n\n\n\n<p>Of course, there will be legal puzzles to solve, too. The commission even floated the concept of a dedicated blockchain docket in the New Hampshire Superior Court for dispute resolutions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Texas Gets Ready for Blockchain in Recording Offices<\/h2>\n\n\n\n<p>In late 2022, the <a href=\"https:\/\/www.smu.edu\/Law\/News-Events\/2022\/November\/Texas-Workgroup-on-Blockchain-Matters\" target=\"_blank\" rel=\"noreferrer noopener\">Texas Work Group on Blockchain Matters<\/a> issued its report. It determined that blockchain has set the stage for the wide adoption of smart contracts and the use of blockchain in deed recordings.<\/p>\n\n\n\n<p>The Work Group met each month for a year before issuing recommendations. During that time it heard from blockchain experts and hosted public hearings. The group\u2019s committees focused on digital verification technology, smart contracts, energy, education, financial innovation, government agencies and recording offices, among other areas. &nbsp;<\/p>\n\n\n\n<p>Why does a Work Group on Blockchain Matters exist in Texas in the first place? Because the Texas legislature passed&nbsp;House Bill 1576 into law. One of the law\u2019s mandates is the production of a master plan to develop the Texas blockchain industry.<\/p>\n\n\n\n<p>Like New Hampshire, Texas is getting serious about blockchain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Federal Regulation Is Still Needed<\/h2>\n\n\n\n<p>Of course, no state operates in a vacuum. Federal standards might be necessary from a consumer protection standpoint.<\/p>\n\n\n\n<p>And there\u2019s another big issue. As long as the cryptocurrency market is barely regulated, investors are vulnerable to schemes and bad actors.<\/p>\n\n\n\n<p>Granted, blockchain is not synonymous with the crypto market and all its drama. Yet the development of blockchain applications (such as tokens; see below) is connected with the crypto sector.<\/p>\n\n\n\n<p>To date, federal regulators haven\u2019t established definitive agency roles to deal with crypto. As government departments commit to overseeing crypto markets, investors will presumably be better protected. And that can only be good for blockchain and its implications for real estate ownership:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Digital tokens on a blockchain can represent ownership, and make real estate easier to buy and sell.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tokenizing property values could, at least in theory, make real estate more inclusive \u2014 by enabling investors to buy fractional shares.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Blockchain\u2019s indelible ledger could make costly <a href=\"https:\/\/www.deeds.com\/articles\/real-estate-title-insurance-a-brief-explanation\/\">title searches and insurance policies<\/a> obsolete.<\/li>\n<\/ul>\n\n\n\n<p>The above are just a few examples of blockchain\u2019s potential to transform real estate.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Your Move, Federal Government<\/h2>\n\n\n\n<p>Whatever we might think of the blockchain phenomenon, the time is more than ripe for federal legislators and regulators to protect consumers. They must step in to make sure cryptocurrency investments are on the level and backed up by reserves. And the protections need to have enforcement mechanisms.<\/p>\n\n\n\n<p>Watch for substantial movement in this area ahead. We\u2019ll keep our readers posted.<\/p>\n\n\n\n<p>Supporting References<\/p>\n\n\n\n<p class=\"has-small-font-size\">Chris Teale for <em>GCN.com<\/em> (<em>Government Computer News<\/em>, a part of <em>GovExec.com<\/em>): <a href=\"https:\/\/gcn.com\/emerging-tech\/2023\/01\/new-hampshire-could-play-leading-role-promoting-blockchain-report-says\/382245\/\" target=\"_blank\" rel=\"noreferrer noopener\">New Hampshire Could Play \u201cLeading role\u201d in Promoting Blockchain, Report Says<\/a> (Jan. 26, 2023).<\/p>\n\n\n\n<p class=\"has-small-font-size\">Texas 86<sup>th<\/sup> Legislature: <a href=\"https:\/\/legiscan.com\/TX\/bill\/HB1576\/2019\" target=\"_blank\" rel=\"noreferrer noopener\">H.B. No. 1576<\/a>.<\/p>\n\n\n\n<p class=\"has-small-font-size\">Bloomberg Opinion \u2013 Bill Dudley via <em>AFR.com<\/em> (<em>Australian Financial Review<\/em>, a <em>Sydney Morning Herald<\/em> publication): <a href=\"https:\/\/www.afr.com\/markets\/currencies\/crypto-is-worth-fixing-regulators-should-get-moving-20230130-p5cgk5\" target=\"_blank\" rel=\"noreferrer noopener\">Crypto Is Worth Fixing. Regulators Should Get Moving<\/a> (Jan. 30, 2023).<\/p>\n\n\n\n<p class=\"has-small-font-size\">And as linked. Photo credit: <a href=\"https:\/\/www.pexels.com\/photo\/landscape-photography-of-house-under-calm-blue-sky-2089977\/\" target=\"_blank\" rel=\"noreferrer noopener\">Leah Kelley<\/a>, via Pexels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Governor Chris Sununu intends to make New Hampshire \u201ca leading jurisdiction for the development of sound and effective applications of blockchain technologies.\u201d This comes on top of a new report from the Governor\u2019s Commission on Cryptocurrencies and Digital Assets, which says blockchain offers improved methods for recording real estate deeds and other title documents. Change [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85],"tags":[],"class_list":["post-2758","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Hampshire and Texas: Both Looking at Blockchain for Deeds? - Deeds.com<\/title>\n<meta name=\"description\" content=\"Change is coming. New Hampshire in 2023 is following a very similar path to one laid out by Texas last year. 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Let\u2019s take a look.","og_url":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/","og_site_name":"Deeds.com","article_publisher":"https:\/\/www.facebook.com\/deedsrealestate\/","article_published_time":"2023-02-02T15:00:00+00:00","article_modified_time":"2024-04-26T03:18:10+00:00","og_image":[{"url":"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1024x299.jpg","type":"","width":"","height":""}],"author":"Deeds.com","twitter_card":"summary_large_image","twitter_creator":"@RealEstateDeeds","twitter_site":"@RealEstateDeeds","twitter_misc":{"Written by":"Deeds.com","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/#article","isPartOf":{"@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/"},"author":{"name":"Deeds.com","@id":"https:\/\/www.deeds.com\/articles\/#\/schema\/person\/8e0eeca72de74094ddaa30fc54159b6b"},"headline":"New Hampshire and Texas: Both Looking at Blockchain for Deeds?","datePublished":"2023-02-02T15:00:00+00:00","dateModified":"2024-04-26T03:18:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/"},"wordCount":723,"publisher":{"@id":"https:\/\/www.deeds.com\/articles\/#organization"},"image":{"@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/#primaryimage"},"thumbnailUrl":"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1024x299.jpg","articleSection":["Blockchain"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/","url":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/","name":"New Hampshire and Texas: Both Looking at Blockchain for Deeds? - Deeds.com","isPartOf":{"@id":"https:\/\/www.deeds.com\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/#primaryimage"},"image":{"@id":"https:\/\/www.deeds.com\/articles\/new-hampshire-and-texas-both-looking-at-blockchain-for-deeds\/#primaryimage"},"thumbnailUrl":"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2023\/02\/blockchain-for-deeds-1024x299.jpg","datePublished":"2023-02-02T15:00:00+00:00","dateModified":"2024-04-26T03:18:10+00:00","description":"Change is coming. New Hampshire in 2023 is following a very similar path to one laid out by Texas last year. 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