Delaware to Have Blockchain Law
Delaware is will soon have a blockchain law, though the process is in the early stages. A piece of legislation would change the state's General Corporation Law to allow for blockchains.
The Delaware Blockchain Initiative is supported by Symbiont, and 2017 is the year that it is supposed to happen. The bill states, "Amendments to Sections 219, 224 and 232 and related provisions are intended to provide specific statutory authority for Delaware corporations to use networks of electronic databases (examples of which are described currently as 'distributed ledgers' or a 'blockchain') for the creation and maintenance of corporate records, including the corporation’s stock ledger."
According to law firm Richards, Layton and Finger, the bill is will need more support from the Corporation Law Section and also need introduction to the Delaware General Assembly (the state's legislature). However it could happen as soon as August.
I am interested to know whether you think this is a positive thing? Are these the right people to head up this project?
We don't think that the gov should have any say as to what is legal and what is not.
A responsible marketplace does their own due diligence would create much more freedom and peace.
What are your thoughts?
Hmm, I think thats a much broader question than the notion of adopting blockchain for things that should naturally be on a public ledger ie Ownership rights.
That said, I think you're philosophically correct, but the question is, which comes first? And more pressing, in the interim, how do we influence decision makers to start using the blockchain more?
DBI might be the way, but I think they're likely using blockchain to centralize power, although I am doubtful they will be successful anyway.
The whole idea is to get away from a few decision makers by making blockchain ubiquitous. If enough people use it, then it will become widely available and the influence of "a few" will be broken.