For Immediate Release
March 1, 2023
Sheena Kadi
Communications Director & Public Information Officer
sheena.kadi@state.co.us
303-349-8113
Colorado State Treasurer Dave Young Recommends State Pursue Security Tokens and Blockchain Technology for State Financings; use of Security Tokens is feasible and would be in the long term best interest of the state
COLORADO: TODAY, Colorado State Treasurer Dave Young submitted the Security Token Offerings State Capital Financing Feasibility Study as requested by Colorado Senate Bill 22-025, reinforcing Colorado’s leadership in the use of emerging technology in state finance.
“The use of blockchain technology, as well as Security Tokens, would be feasible, and could be a beneficial addition to the State of Colorado’s current financing options,” stated Colorado State Treasurer Dave Young. “In fact, it’s likely the cost of implementing this technology safely and effectively that may be the most significant barrier in implementation at this time.”
Colorado Senate Bill 22-025 requested that the State Treasurer complete a feasibility study of the use of blockchain technology, as well as examine the potential use of Security Tokens to determine whether such use would:
- Increase the universe of potential investors in State financings, thereby increasing investor demand and potentially lowering interest rate costs;
- Reduce the State’s financing transaction costs by addressing current marketplace inefficiencies; and
- Allow Coloradans and others who are so inclined to participate as investors in State financings.
The entire study can be found online on the Colorado Department of Treasury website here.
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