The Texas Blockchain Council, a trade association representing the blockchain industry in Texas, announced today that it will host the inaugural Texas Blockchain Summit in Austin on October 8th, 2021. The one-day event addresses how blockchain technology and cryptocurrencies like Bitcoin contribute to the economic dynamism of the State of Texas and the United States.

Prominent subject-matter experts on the topics of blockchain and cryptocurrencies headline the event, including Wyoming Senator Cynthia Lummis, Texas Banking Commissioner Charles Cooper, Chamber of Digital Commerce Founder Perianne Boring, Venture Capitalist Nic Carter, Professor of Finance Nik Bhatia, and the Human Rights Foundation’s Chief Strategy Officer Alex Gladstein. The conference will focus on digital asset policy, digital identity, Bitcoin mining in Texas, and cryptocurrency’s implications for US sovereignty and national security.

The Summit’s joint focus on policy and protocol-enabled self-sovereignty make it the first of its kind.

Natalie Smolenski, Chairman of the Board of the Texas Blockchain Council, explained the importance of the event: “We are in a unique moment in the history of human societies. For the first time, we have a form of sound money that is not issued by any nation-state. This has profound implications for political economy that the brilliant minds attending the Texas Blockchain Summit intend to explore.” 

Lee Bratcher, Founder and President of the Texas Blockchain Council, described how the Summit arose against a background of growing support for the blockchain industry in Texas: “This conference is the culmination of years of policy work in Texas that started in early 2019 when Representative Parker filed the first Blockchain Work Group bill. At the Texas Blockchain Council, we believe that Texas can lead the world in establishing a climate of innovation around blockchain technology.”

Texas is fast becoming a leader in blockchain innovation. During the 87th State Legislative Session, which ended on May 31st, 2021, the Texas House and Senate passed bills to create a Blockchain Work Group (HB 1576) and to clarify the treatment of digital currencies under Texas law (HB 4474). The bills were carried through the legislative process by a broad, bipartisan coalition of State Legislators and championed especially by Representative Tan Parker and Senator Angela Paxton. Governor Greg Abbott has publicly assured the blockchain industry in Texas of his support. Furthermore, on June 10th, 2021, the Texas Department of Banking affirmed that banks chartered in Texas may custody virtual currencies.

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