This bill mandates the University of Wyoming's Center for Blockchain and Digital Innovation, in collaboration with the Secretary of State, to develop a blockchain or other distributed ledger filing system for required filings. The system is intended to enhance the efficiency of filing processes and may include features such as an application programming interface, security measures, and digital identity registration. The Secretary of State has the discretion to test and implement the system but is not obligated to do so. The bill also allows for consultation with various stakeholders and potential partnerships with technology innovators to ensure the system meets best practices.

Additionally, the bill establishes a digital ledger filing system account, funded by the first $2 million collected under a specified statute, with an appropriation of the same amount allocated to the University of Wyoming for the development of the filing system. This funding is designated for use until June 30, 2027, and any unspent funds will revert to the general fund. The act is set to take effect immediately upon completion of the necessary legislative processes.