The proposed Bill No. 5077 aims to establish a task force responsible for overseeing the implementation and regulation of Web 3.0 technologies. This task force will facilitate collaboration between public and private entities to enhance the development and integration of these technologies. Additionally, the bill seeks to amend the general statutes to create grant programs that will support initiatives in decentralized finance or peer-to-peer lending, expand broadband Internet access in underserved areas, and promote education and workforce development focused on blockchain literacy and skill building.

Key insertions in the bill include the establishment of the task force and the creation of grant programs targeting specific areas such as decentralized finance, broadband expansion, and blockchain education. The bill does not specify any deletions from current law, indicating a focus on adding new provisions rather than modifying existing ones. Overall, the bill aims to enhance technological advancement and accessibility in the state.