California Governor Gavin Newsom has launched a new initiative called the “California Breakthrough Project” to increase efficiency in public services and strengthen public-private partnerships.
According to FOX Business reporter Eleanor Terrett, senior executives of leading cryptocurrency companies such as Ripple, Coinbase and MoonPay were also invited to the project.
The project’s working group held its first meeting at Ripple’s San Francisco headquarters on June 6. Also attending the meeting were executives from technology companies such as Instacart, Snapchat, and Anduril Technologies, as well as well-known angel investor Ron Conway.
The main objectives of the Breakthrough Project are as follows:
- Encouraging collaboration between state-level decision-makers and experts from the technology, business and innovation sectors.
- Identifying systematic inefficiencies in the government’s processes, services and technology and providing innovative solutions,
- Creating new competition and project models based in California to develop modern solutions,
- Maintaining public transparency, worker and civil society participation, and ethical safeguards throughout the innovation process.
*This is not investment advice.