Blockchain technology is back at Virginia’s legislative session in 2025. An effort to allow businesses to use high tech to conduct transactions is the newest trend that elected officials are considering, just as one of the industry’s biggest fans enters the White House.
Imagine you’re starting a business, and you want to give every member of that business the chance to participate in how the company is run.
Greg Leffel is with the Virginia Blockchain Council. He said such businesses can be achieved and the blockchain is the place for them. Instead of Limited Liability Corporations, or LLCs, they’re called decentralized autonomous organizations, or DAOs.
“It basically allows a democratized approach to organizations," Leffel told Radio IQ So, from the bottom up, the community gets to participate, instead of a top-down approach. And that’s what we like,”
Alexander Mann -a blockchain fan we spoke to last year about his use of the tech to track weather on Shenandoah Valley Vinyards- told me this week DAOs offer exciting new options for startup businesses.
“You are tokenizing or using blockchain technology with its immutability and security to run your business," Mann said.
Delegate Dan Helmer knows Virginia wants to be welcoming to all kinds of businesses. That’s why he and other officials have backed a law that would allow the creation of DOAs in the commonwealth. It may be particularly important considering President Donald Trump signed an executive order promising to quote “support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
Beyond the Trump-connection, Helmer wants Virginia to be able to compete.
“What we're really focused on taking advantage of is whatever industry is making jobs in America, is legitimate, that wants to make sure it's creating jobs, is here in Virginia,” Helmer told Radio IQ
Helmer’s bill flew out of the House with bipartisan support. The DAO effort is now on its way to the Senate.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
