Delaware draft bill acknowledged the blockchain record

Delaware draft bill acknowledged the blockchain record

 

Delaware is drafting a bill that block chain as a way to create and manage business records.

Although the process is still in the early stage, Delaware State Bar Association Company Law Division of lawyers has published a legislative proposal to use block chain technology to realize this objective to establish a legal basis. In particular, it will modify the general corporate law in the state of the blockchain.

In less than a year, the state issued a chain block application project is committed to corporate records in the former governor under the leadership of JackMarkell.

The Delaware block chain project has also been a smart contract startups Symbiont support, participating companies believe that 2017 Delaware enterprises could start using the block chain technology to save the enterprise records.

The proposed law wrote:

“On the 219224 and 232 chapters and the relevant provisions of the amendment to provide specific statutory authority for the state of Delaware enterprises to use electronic databases (distributed network books or block chain) to create and maintain records of the enterprise, including the enterprise stock books.”

However, the bill has not yet come into effect.

According to the proposal released details of Richards, Layton and Finger LLP, the bill also requires further approval of the company law. Then, to Delaware (parliament of the state legislature) formally proposed the bill, and make further modifications.

The state uses block chain technology to test the enterprise records may not be surprising.

Many companies have headquarters in Delaware, according to the State Economic Development Department, including the world’s top 500 enterprises accounted for more than half.

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