Delaware has launched its “Delaware Blockchain Initiative” to create a regulatory and legal environment to attract blockchain companies, and to use blockchain for government records.
Governor Jack Markell announced two recent blockchain initiatives, under the banner “Delaware is open for blockchain business”. The first was about moving state archival records to an open distributed ledger. The second allows any private company that incorporates in that state to keep track of all the equity issued and the different shareholder rights on the blockchain.
Delaware, home to more than sixty percent of Fortune 500 firms, has also partnered with Symbiont.io to encourage companies to use blockchain technology to store contracts and other essential corporate data.
In 2016, Delaware became the first US state to embrace distributed ledger technology. Blockchain technology will be used to store contracts and other corporate data on a distributed ledger, allowing companies and agencies to store their documents in more than one location. This will keep them more secure and allow automated access by constituents, shareholders and employees. The Delaware Public Archives will be among the first to use the distributed technology to archive and encrypt government archives. The use of blockchain means the documents are can be replicated in multiple locations, providing better disaster recovery and saving the cost of off-site physical storage.