Beacon Center poll says State incentive wasteful, while Entertainment, Blockchain, other industries mobilize for Capitol Hill action

December 12, 2017 By Milt Capps
Nashville, TN
Venture Nashville Connections (VNC)

BEACON Center of Tennessee, the "free market" think tank that regularly accuses state and local governments of wasting taxpayer dollars, today released its 2017 Pork Report.

Once again, Beacon says its online poll of its supporters shows that an industry incentive managed by the Tennessee Department of Economic and Community Development (ECD) is viewed as wasteful.

State and local government incentives for industrial investment have, of course, been frequent targets of Beacon reporting for years.

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 In similar fashion, attorneys, techies and other allies have in recent months created the Tennessee Blockchain Alliance (TBA).

One of TBA's first-movers, attorney John Wagster (by day, with Frost Brown & Todd) has several times publicly stated that the group's priorities are likely to include obtaining legislative and regulatory acceptance and validation of "smart contracts" that reside in applications atop blockchain technology platforms as fully legitimate contracts; and, for creation of regulatory "sandboxes" that allow blockchain innovators to develop and test innovative platforms in an environment of relaxed regulation and licensing.

For fintech generally, such sandboxes have been sprouting in London, Singapore and elsewhere for some time. Government-sponsored incentives sometimes accompany such developments.

Such issues gained prominence yesterday when the U.S. Securities & Exchange Commission (SEC) moved to halt an initial coin offering (ICO) by SFO-based Munchee.

View the full article in its entirety on VNC: Beacon Center poll says State incentive wasteful, while Entertainment, Blockchain, other industries mobilize for Capitol Hill action.

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