The project involves an open ledger maintained across a network of computers, giving users instant access to the transaction history as opposed to heavily fortified servers that protect data and can have more trouble communicating with one other. Before blockchain moves forward in the state, a committee of lawyers under Delaware’s bar association has to determine if and how to roll it out.
The system should initially benefit private companies that incorporate in the state. State officials find a difficulty in keeping track of all equity issued and different shareholder rights after multiple financing rounds, with many companies staying private.
Blockchain is best known as the open technology that processes bitcoin transactions by recording them all on a public ledger. Advocates tout blockchain’s security and low cost, qualities that are enticing some companies and governments to explore how it might be used to process other types of transactions.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now