California Governor Gavin Newsom held a meeting with representatives of blockchain company Ripple to discuss a new project aimed at integrating technology into the public sector.
Goals and Concept of the Project
The initiative, dubbed the "California Breakthrough Project," aims to utilize artificial intelligence and blockchain innovations borrowed from the private sector to enhance government efficiency. The governor emphasized that California, with the potential to become the world's fourth-largest economy, is the "birthplace of modern tech."
Participants of the Meeting
The meeting included participants from various fields such as crypto, fintech, logistics, and defense technology. Notable attendees included Chris Larsen, executive chairman at Ripple, Asheesh Birla, former general manager at Ripple, Jeff Lawson, CEO of Twilio, Ron Conway, founder of venture capital firm SV Angel, and Jason Wheeler, former CFO at Tesla.
Previous Initiatives by Newsom in the Crypto Space
In May 2022, the governor signed an executive order aimed at creating a clear regulatory framework for digital asset companies. In October 2023, he also approved a crucial crypto regulation bill, which was originally set to take effect earlier this month but has been postponed to July 2026.
Governor Newsom's initiatives highlight the commitment to integrate technology into government operations, potentially leading to more effective solutions for pressing issues in California.
