One of those less talked about issues of importance was in the field of technology. In August 2018 during his campaign, Governor Elect Jared Polis said, “The focus of our policy is to make Colorado the leader in the currently innovative blockchain companies and helping companies succeed.” This statement and his election should put a focus on Colorado’s technology centers and move Blockchain Technology forward within the US. Why is this important? It’s important since blockchain technology can be utilized in numerous fields, such as supply chain, finance, health care, real estate, security and government among others.
A perfect example of how blockchain technology can be utilized would be in the supply chain field. Colorado is gifted with a relatively substantial kimberlite district, many of which contain diamonds. With a history of exploration spanning a mere 45 years, the Stateline District of northern Colorado holds great potential for the diamond industry. Diamonds up to 28.3 carats have been found in the Stateline District, most notably from the Kelsey Lake Mine, near the Wyoming border. (Rocktalk Vol. 3 #2, 1999). Additionally, diamonds up to 14+ carats have been found at several other nearby deposits. (The Business Report, 2000). Examples of these finds continue to be revealed on a yearly basis.
If Polis, was to follow through on his pledge, blockchain technology could be used in order to ensure the growth of the Colorado Diamond industry in the following manner. However, before we look at the manner of supply chain itself, let us remind ourselves, that a Blockchain is a consensus based decentralized and secure public or private ledger which stores information chronologically and immutably on a peer to peer network. The supply chain would work as follows;
Diamond Mind → Rough Trader/Aggregator → Diamond Cutter → Diamond Manufacturer → Wholesaler → Jewelry Store → Customer
With such an supply chain, the regulating body in Colorado would be able to verify that all diamonds came from the state itself, this being a selling point for many local and visiting customers and businesses. Since each step of the diamond’s progression on the blockchain is permanently recorded and unchangeable on a peer to peer open ledger there could be no irregularities of business data or tracking.
Consequently, the Governor Elect, could ensure that this state industry was truly expanding in Colorado and counterfeit diamonds were not being brought in from outside the state. Not only would this grow the diamond industry within Colorado but at the same time it would develop Colorado as a technological center for innovation. This is true for many of the additional industries that I mentioned above. It would seem to me that we need to be grateful for Polis’s victory, as it shows that we are a value based electorate and not a prejudiced based society, while at the same time helping move blockchain technology forward within the United States.