Delaware Confirms Interest in Blockchain Technology For Business Registration

It appears as if the state of Vermont is not the only one keeping a close eye on the blockchain these days. Delaware wants to wield this technology to reduce the paperwork costs and time associated with registering new businesses in the region.

Delaware Wants A Piece of Blockchain Technology

With all of the focus on the blockchain these days, exciting things are bound to happen at some point. There are so many benefits to this technology, it becomes clearer the only limitation will be our imagination. For the state of Delaware, the blockchain will be a perfect tool to cut costs and the amount of paperwork associated with registering new businesses.

Thanks to their partnership with Pillsbury Winthrop Shaw Pittman and Symbiont, these plans may come to fruition a lot sooner than people expected. Other than registering new local businesses in a quicker and cheaper way, Delaware also wants to explore the role of blockchain technology in share movements and shareholder communications.

From the information we have received, it appears as if state officials are in the early stage of putting this project together. However, it is not possible for a business to register on the blockchain just yet, as a lot of legal legwork still has to be completed. Moreover, there is no clear answer as to whether or not the blockchain will be part of these cost-cutting measures in the end.

In a rather surprising turn of events, there are no plans by Delaware officials to bring a BitLicense version to the state for now. Anyone running a Bitcoin and blockchain company in the region can do so freely for the time being although that situation may change in the future. It is quite positive to see the officials keeping an open mind towards this ecosystem, though.

Digitization is an important aspect of our society in its current shape, and most government officials are so very much behind the curve, they can no longer see the curve to begin with. Delaware has been trying to come up with ways to digitize their legislature for quite some time now, and this recent discussion about blockchain technology shows how forward-thinking they are trying to be.

Source; News Tip Via Emails

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.