Page 89 - Innovation Delaware 2018

Advertising
Delaware Department of State
Deputy Secretary of State Kris Knight speaks to a group of leaders in technology, law and business services convened earlier this year to lay out the next steps for blockchain in Delaware.
sos.delaware.gov corp@delaware.gov DEDeptState @DEDeptState
Delaware Blockchain Update:
Still Leading From the Front
Delaware’s world-leading embrace of blockchain technology is about to jump to an historic new level.
Starting this year, the Department of State – custodian of Delaware’s renowned and trusted corporate franchise – will launch two pilot programs aimed at harnessing the power of distributed ledgers to help Delaware companies run more efficiently and transact business faster and free from costly errors.
The first new project will offer a subset of Delaware business entities the opportunity to manage their shares on an official state- hosted blockchain, tracking issuances
and transfers in real time with total security. A companion pilot will use that same blockchain to record UCC financing statements, taking a document-heavy and labor-intensive process and making
it instantly accurate and immutable.
But how did Delaware get here, to the leading edge of blockchain development and innovation?
The answer: We did what Delaware does best – identified a goal, put our smartest people on it, and came together to make it a reality.
The stage was set last year with the passage of legislation that opened the door for Delaware companies to manage their corporate governance using blockchain technology. Next, the Department of State gathered together a group of leaders in
the fields of fintech, business services and corporate law to nail down the best ways to start adopting blockchain technology in state government.
Now, those ideas are turning into real-world projects that will lead the way for other states, even other countries, to continue following in Delaware’s footsteps.
In Delaware, we like being first.
LEADERS IN INNOVATION
INNOVATION DELAWARE 87