[2016-05-02] CD: Delaware to Seek Legal Classification for Blockchain Shares

Delaware to Seek Legal Classification for Blockchain Shares

Delaware is looking to use blockchain technology in a bid to streamline the cost and paperwork burden of registering new companies in the state.

In partnership with smart contract-focused startup Symbiont and New York law firm Pillsbury Winthrop Shaw Pittman, the planned system would move the process of registering companies, tracking share movements, and managing shareholder communications into a digital environment.

At present, Delaware is in the initial phases of the project. Before any companies starts registering via blockchain, deliberations with the state’s bar association await, and possible tweaks to state law may need to be made. There is also the question of whether the bitcoin blockchain will be utilized as part of the proposed process.

http://www.coindesk.com/delaware-government-blockchain-shares/